Market Snapshots

GS Wave Analysis – 13 March, 2020

GS Wave Analysis – 13 March, 2020
  • GS stopped near support level 150.00
  • Likely to rise to 160.00

GS recently stopped near the powerful support level 150.00 (which similarly stopped the sharp multi-month downward impulse sequence (A) at the end of 2018, as can be seen below).

The last close stands well below the lower weekly Bollinger Band – which heightens the probability of the upward reversal in the nearest time.

 

With the weekly Stochastic and RSI indicators both in the oversold territory – GS is likely to rise toward the next resistance level 160.00.

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