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Recovery Efforts Lack Impulse ..........>

CABLE TECHS
CABLE TECHS: Recovery Efforts Lack Impulse 
Recovery efforts have been shallow and lacking impulse so far suggesting that
the bearish trend remains intact. Thursday's low of 1.2724 remains in focus as
does up trendline support from the Aug lows at 1.2704. To reignite upside
momentum, bulls need to break above the 50% retracement of 1.2696-1.3258/the
100-dma at 1.2977/13, opening the Nov 7 high at 1.3175, ahead of down trendline
resistance off the June high at 1.3198. On the downside, bears look to break
below the Nov 15 low to open the Oct 30 low at 1.2696 & ytd low at 1.2662.

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