GLD Weekend update

• GLD weekly chart showing a shooting star or an Inverted hammer pattern.
• Price is still above the trend line as shown in daily chart. Breakdown below the trend line along with a MACD sell may give good downside for GLD.
• If bearishness continues into next week possible retest of the broken resistance line and 200 Day SMA  looks possible.
• GOLD CHANNEL BREAKDOWN
  

CISCO Bullish Engulfing

• Daily chart shows price trending up above 50 Day SMA.
• Weekly chart shows a bullish engulfing pattern which should help bulls to continue this up move.
• Next resistance will be the 50% Fib level. Closing above 50% Level should take price to 22 Levels.
• Month chart too is looking good for bulls with a closing above 20 Month SMA. Month chart Price action should take stock to 22 Levels which is golden ratio as shown in 2nd chart. 
• GOLD CHANNEL BREAKDOWN
  

DOW JONES Weekly resistance level

• Dow Jones weekly resistance level at 12875.
• Week candle closing above this level would be perfect for bulls.
• Closing below this level will keep bears interested.
• GOLD CHANNEL BREAKDOWN