October 31, 2011

CISCO Near Resistance Line

  • Cisco is approaching weekly resistance line and weekly ichimoku cloud.
  • Daily chart is looking very bullish with 200 and 50 Day SMA about to do a golden cross.
  • Price may try to shakeout the week bulls before the moving average cross over So the weekly resistance levels might come into play here.
  • Bulls will be stronger if price does not get resisted near the weekly resistance line and cloud.

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