Goldman Sachs (US: GS) impulse 5 sub-wave movement of A is strong that sub-wave 3 of A is marked by a strong 5 sub-wave extension. Hence, the corrective nature of wave B will be slightly weaker as indicated in the chart where wave B rejected the 50% of wave A. Based on other technicals, the strong continuation of bearish sentiment is high.
*The technical call is valid for 3 weeks only.
*In the event Should price breaks the 200.00 psychological resistance level and stay above for 3 consecutive periods, price will likely test the next sell zone at 222.54-228.25, which confluence strongly with the 78.6% of the A wave.
Red line = 200 SMA Line
Blue line = 50 SMA Line
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