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CABLE TECHS: Takes out key support:
*RES 3: 1.2735 200-dma
*RES 2: 1.2670 50% retracement of the Mar 13 - Sep 3 decline
*RES 1: 1.2582 High Sep 20 / High Jul 15
*PRICE: 1.2372 @ 15:32 GMT Sep 25
*SUP 1: 1.2355 Intraday low
*SUP 2: 1.2327 Low Sep 13
*SUP 3:1.2284/75 Low Sep 12 / 50-dma
Support that the pair found in the Tuesday session faltered Wednesday, returning
the focus lower and shifting sights to the 50-dma at 1.2275. This harms the
over-arching bullish outlook, giving those looking for a resumption of the
uptrend with a tougher task. Wednesday saw key support at 1.2393, give way,
opening 1.2327 in the first instance. A breach of this level is required to
threaten a deeper pullback and the potential start of a correction. Bulls need
to re-take Friday's 1.2582 high, which would open 1.2670, the 50% retracement of
the decline between Mar 13 - Sep 3.