Short term view - GOLDMAN SACHS : The moving average is capping prices.
The support has been broken, the trend becomes negative as we now have a succession of descending peaks and troughs.The next target is at $213.850. The invalidation level is below $246.300.Arguments :
- Prices have pulled back to the major resistance level (previously a support). The fall is now resuming.
- The moving average is capping prices.
- The bearish gap opened as prices break out of the pattern announces a fall.
Goldman Sachs Group is a bank holding company and financial holding company. The company is a global investment banking, securities and investment management firm that provides a range of financial services to corporations, financial institutions, governments and individuals. The company operates in four business segments: Investment Banking, which serves public and private sector clients and provides financial advisory services; Global Markets, which serves its clients who come to the company to buy and sell financial products, raise funding and manage risk; Asset Management, which provides investment services; and Consumer & Wealth Management, which provides a range of wealth advisory and banking services.
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