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CABLE TECHS
CABLE TECHS: Uptrend Support Tested
After breaking below its 100-dma Thursday the uptrend from the August lows was
challenged Friday morning ahead of the 50-dma at 1.3004 and psychological 1.30
level. A break below this support area would return the focus to the Oct 4 lows
at 1.2922 and 61.8% short-term retracement level at 1.2905 before extending the
broader downtrend towards the Aug lows. To regain upward momentum, bulls need to
re-take the 100-dma and close back above 1.32, before targeting the Sep 20 high
at 1.3298. A break here would confirm a large inverse head-and-shoulders
pattern, suggesting further topside gains.

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