GS formed a Bullish Abandoned Baby (another name is Morning Doji Star) pattern a few days ago but the trend did not reverse to up trend. The trend will normally continue if there is a pattern failure, and the H&S formation remains valid for the time being. I am watching closely whether GS will break the neckline and the support of $158.4. If these two supports are broken, GS will start a deep correction to about $138 level.
- Post author:Marubozu
- Post published:December 4, 2009
- Post category:Goldman Sachs (GS)
- Post comments:0 Comments