Recovery Falters At 61.8% Fibo..........>

CABLE TECHS: Recovery Falters At 61.8% Fibo Retrace Level

*RES 4: $1.3315/19 Jun 22 high, 1% volatility band

*RES 3: $1.3252 76.4% Fibo of $1.3315-$1.3050

*RES 2: $1.3214/21 61.8% Fibo of $1.3315-$1.3050, Jun 25 low

*RES 1: $1.3170/83 Hourly resistance, intraday recovery high

*PRICE: $1.3119 @1515GMT

*SUP 1: $1.3080/85 Hourly highs/lows Jun 28

*SUP 2: $1.3050/55 Jun 28 low, 1% volatility band

*SUP 3: $1.3027 Oct 6 low, 7 week bear channel base

*SUP 4: $1.2970 1.618 swing of $1.3102-$1.3315

*COMMENTARY* The recovery continued on Friday, reaching the 61.8% Fibo retrace

level at $1.3214, before giving back some ground, as a result of some near term

overbought conditions. Initial support from $1.3150 has since given way, along

with  $1.3129-$1.3110 area. The latter the protection to a further

$1.3085-$1.3080 fall, where bigger questions are asked. Resistance

$1.3170-$1.3183 but above that $1.3214 required to renew upside potential.