Goldman Sachs is testing support at 190.47 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 230.72 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is testing support at 3.5% where a corresponding bounce could occur.
Goldman Sachs is in head and shoulders (s1 h s2) validated configuration in weekly. The break ok the neckline has confirmed the configuration and the bearish signal. From now, a pullback over the neckline is expected before the start of the strong bearish phase. Objective is 160$.
We are witnessing a softening in the market. The Dow Jones Industrials appear to be a mixed bag. Buying blind is NOT the strategy at this point - it worked for 10 years, now the easy money has been made.
As suspected, the mid-term elections have not been without incident, and investors are naturally cautious. Many big stocks are confirming bearish topping...
Oil is getting geared up to go with the volatile markets
$68 key psychological level
Break past $70
T1: $83
T2: $88
R/r =3/1
Stop loss 62$
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A bull's case for oil by Goldman Sachs
Check out this news on Bitcoin today Sept. 5th. All credits going to CNBC. Goldman Sachs did NOT settle for the price of Bitcoin. Like I said... too expensive for banks. Retail traders will settle for anything. Not a Investment banker that has back to back months of winning trades for years. Maybe GS will come back to the table at a better price like $1100 or...
Looking at the long-term analysis on the 1W view of gold, it looks like it is headed downward still. At the moment it is on a retracement up and not to be confused for trend reversal as i do not believe market is reversing just yet until it hits either/both of the 2 horizontal lines in my chart.
1st yellow line at 1130.71 here on tradingview
2nd yellow line at...
As you can see from the daily chart the price has respected the support and resistance levels many times before, and now it has bounced off the support line once again presenting us with a good long opportunity.
SL and TP are reserved for our clients.
On GOLDMAN SACHS Daily chart, was formed a bullish divergence, price/CCI. However, the signal for opening a long position only after the breakout of the blue trendline.
I make another post about BTC, as there might be more interests waiting around the corner. As usual we all will be waiting what move the Wall Street giant will take, but personally I think we might already overreact with the first move BTC makes, with or without any influence of Goldman Sachs. Probably they know that this is a very stressful moment for everyone,...
