Ascending Triangle Forming- Bullish
Looks like an ascending triangle forming on GS after a long downtrend & some consolidation-
- Closed yesterday sitting on the 100day EMA and looks like it will reclaim the 50-day as well
- Buyer volume starting to pick up again, was in oversold territory for quite some time
- MACD is seemingly about to cross, EMA's curling upwards on shorter timeframes (Not Pictured)
- The previous times GS has been rangebound for a bit have seen a big breakout to new ATH's (See Previous Charts Below)- also consecutive pattern of making higher highs and lower lows
- Bullish & looking for a breakout, just some support and resistance levels to keep an eye on along with some RSI based supply and demand zones to keep an eye on
PT1- $392.16
PT2- $396.52
PT3- $398.95+ Breakout
- Closed yesterday sitting on the 100day EMA and looks like it will reclaim the 50-day as well
- Buyer volume starting to pick up again, was in oversold territory for quite some time
- MACD is seemingly about to cross, EMA's curling upwards on shorter timeframes (Not Pictured)
- The previous times GS has been rangebound for a bit have seen a big breakout to new ATH's (See Previous Charts Below)- also consecutive pattern of making higher highs and lower lows
- Bullish & looking for a breakout, just some support and resistance levels to keep an eye on along with some RSI based supply and demand zones to keep an eye on
PT1- $392.16
PT2- $396.52
PT3- $398.95+ Breakout
Comment:
PT1 reached ✅
Comment:
PT2 Reached ✅
Trade closed: target reached:
All Price Targets Reached ✅