Topside Failure Hints at Correction.....>

CABLE TECHS: Topside Failure Hints at Correction

*RES 4: $1.3278 High Sept 19 

*RES 3: $1.3191 Daily Bull channel top 

*RES 2: $1.3157 2017 High July 27 

*RES 1: $1.3119 Hourly support July 27 now resistance

*PRICE: $1.3080 @ 0430GMT

*SUP 1: $1.3052 Low July 27 

*SUP 2: $1.3030 Hourly support July 

*SUP 3: $1.3004 Low July 25 

*SUP 4: $1.2985 21-DMA

*COMMENTARY: The lack of follow through on fresh 2017 and 10mth highs is less

than ideal for bulls when combined with waning momentum and the Bollinger top

($1.3139) limiting follow through. The close below $1.3083 eased bullish

pressure and sees focus return to $1.2985-1.3004 where the 21-DMA is located.

Initial resistance is noted at $1.3119 with bulls needing a close above to

return focus to $1.3157-1.3191 where the bull channel top is located.