Goldman Sachs Group (GS): Can we see a One-Two?✌️

4 Feb

As we have seen some interesting earnings with ourperforming assets like META, NVDA or MSFT, our focus turns to Goldman Sachs Group GS on the daily chart!

Zooming out, we observe the completion of the higher-degree Waves III and IV, finalized at $290, marked by a Triangle where Wave E broke to the downside. Subsequently, an impulsive Wave (1) unfolded, reaching $390.

Now, the anticipation is set for Wave (2), expected to retrace between 50% and 78.6%. This retracement aligns perfectly with a retest of the Triangle's trendline. The exact internal wave structure of Wave (2) remains uncertain. Given Goldman Sachs' tendency for gradual movements, we'll maintain our focus solely on the daily chart for now.