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Goldman Sachs – Multiple bearish patterns on daily chart

NYSE:GS   GOLDMAN SACHS GROUP INC
Daily chart shows –

  • Breach of rising trend line
  • Bearish price RSI divergence

Money flow index turning lower from overbought territory

Prices could test long-term falling trend line support (earlier resistance) now seen at 162.50 levels. A daily close below the same would confirm trend reversal and open doors for a drop to 50-DMA.

On the higher side, only a day end close above 168.90 (Apr 21 high) would signal continuation of the rally from June 27 low.

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