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CABLE TECHS: Weak to weaker:
*RES 3: 1.2582 High Sep 20 / High Jul 15 and bull trigger
*RES 2: 1.2503 High Sep 24
*RES 1: 1.2381 High Sep 26
*PRICE: 1.2307 @ 15:52 GMT Sep 27
*SUP 1: 1.2271 Low Sep 27
*SUP 2: 1.2266 50-dma
*SUP 3: 1.2234/10 Low Sep 9 and Sep 5
The pair retreated further early Friday, taking out yesterday's lows before
finding support at 1.2271, the 50% Fib of the rise from early September. A break
below here opens the 50-dma at 1.2266. A break of these supports would open a
deeper correction. Note, broader trend signals have yet to turn convincingly
bearish and while the risk for now is down, there is a strong possibility the
current pullback is merely a correction. Bulls need to retake Tuesday's 1.2503
high to open the key resistance at 1.2582, Sep 20 high.
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