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Recovers Well After Challenge To 6......>

CABLE TECHS
CABLE TECHS: Recovers Well After Challenge To 6 Week Bear Channel Base
*RES 4: $1.3293 Jul 16 high
*RES 3: $1.3269 Jul 17 high
*RES 2: $1.3214/17 76.4% Fibo of $1.3293-$1.2958, Jul 16 low
*RES 1: $1.3165/75 61.8% $1.3293-$1.2958, hourly resistance
*PRICE: $1.3155 @0753GMT
*SUP 1: $1.3084 Jul 19 high, now support
*SUP 2: $1.3050 Initial recovery high Jul 19, now support
*SUP 3: $1.2995 Jul 20 low
*SUP 4: $1.2958/65 Jul 19 low, 6 week bear channel base
*COMMENTARY* Last Thursday saw the base of the 6 week bear channel come under
pressure, a slight dip below, before rallying strongly on Friday. The recovery
aims to test resistance from $1.3165-$1.3175 next, any higher and the
$1.3214-$1.3217 area comes back into view. As a consequence, support moves up
accordingly. The first levels of note coming from the Jul 19 high at $1.3084 and
then $1.3050. A loss of the latter would concern again.

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