Goldman Sachs recently broke the support area lying between the key support level 220.00 (former correction low from December) and the 50% Fibonacci retracement of the earlier sharp upward impulse from October.
The breakout of this support area accelerated the active impulse waves 3 and (iii) – which belong to wave (C) from January.
Goldman Sachs is likely to fall down further toward the next support level 210.00 (former monthly low from December and the target for the termination of the active wave (iii)).
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