- QQQ Weekly chart is shown with the resistance area.
- An up move from the current levels may find it difficult to sustain at higher levels.
- A bigger correction may happen only if 200 SMA gets broken.
- Price closing the week above the resistance line may confirm a weekly breakout which looks unlikely.
- So price is in between weekly resistance level and 200 SMA. Range is likely to get resolved in favor of bears.
- CSCO WEEKLY RESISTANCE LINE
November 6, 2011
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