Categories: Technical analysis

Goldman Sachs Wave Analysis – 06 November, 2019

  • Goldman Sachs reversed from resistance zone
  • Likely to fall to 212.00

Goldman Sachs recently reversed down from the resistance area lying between the multi-month resistance level 220.00 (which has been reversing the price from July) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the earlier medium-term ABC correction (2) from August.

Given the overbought daily Stochastic – Goldman Sachs is expected to fall further and retest the next support level 212.00 (low of the previous minor correction (iv)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: GS

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