GS Goldman Sachs Daily Chart Potential H&S

GS Goldie daily chart with lots going on technically. Positive divergence bounce last summer as well as QE2 rally up thru the new year but by mid January the rising wedges had played out, conditions were at or coming off overbot levels and negative divergence was in place smacking GS south. The interesting thing now is the head and shoulder (H&S) patterns forming. Two scenario's, the pink lines and the green lines.

Price is at the pink neckline of 160 right now so that would be an important development should it fail tomorrow. With a pink head at 175, neck 160, that targets 145, a key area of horizontal support. For the green lines, green head is 175 as well, but left shoulder would push the neck down to 155 level. Thus, the green line H&S would target 135, also an area of key horizontal support. The chart has a sideways feel to it, but should 160 fail, GS would be in trouble with 155 coming next and 145 in play. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.