Goldman Sachs Wave Analysis – 06 November, 2019

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  • 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)).

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