Ascending Triangle Forming- Update
Updated
Just posting a quick update on GS as it would appear to be a nice bullish ascending triangle forming on the GS daily timeframe. Solid close yesterday after reclaiming the 50-day SMA as well sitting right on the 50-day EMA. GS is also holding a bullish falling wedge on the 4-hour and shorter timeframes. Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- Bullish and looking for a breakout, previous charts are attached below.
- Ascending Triangle Forming on the Daily Timeframe
- MACD Cross on the 4-Hour Timeframe (See Attached Chart Below)
- Falling Wedge on the 4-Hour Timeframe (See Attached Chart Below)
- 8-Day EMA & RSI are About to Cross on the 4-Hour Timeframe (See Attached Chart Below)
- Slight Bullish Hidden Divergence on the RSI on Shorter Timeframes
- Reclaimed the 20-day & 50-day EMA's, SMA's starting to converge as well
- Buyer Volume Starting to Pick Back Up Relative to Seller Volume
PT1- $402.62
PT2- $403.93
PT3- $405.73
PT4- $408.35+
4-Hour Timeframe
https://www.tradingview.com/i/PWD8a8Vx/
-Previously Charted-
https://www.tradingview.com/i/ds4TbrZU/
https://www.tradingview.com/i/9LOEcb9h
https://www.tradingview.com/i/qymIgCWn
- Ascending Triangle Forming on the Daily Timeframe
- MACD Cross on the 4-Hour Timeframe (See Attached Chart Below)
- Falling Wedge on the 4-Hour Timeframe (See Attached Chart Below)
- 8-Day EMA & RSI are About to Cross on the 4-Hour Timeframe (See Attached Chart Below)
- Slight Bullish Hidden Divergence on the RSI on Shorter Timeframes
- Reclaimed the 20-day & 50-day EMA's, SMA's starting to converge as well
- Buyer Volume Starting to Pick Back Up Relative to Seller Volume
PT1- $402.62
PT2- $403.93
PT3- $405.73
PT4- $408.35+
4-Hour Timeframe
https://www.tradingview.com/i/PWD8a8Vx/
-Previously Charted-
https://www.tradingview.com/i/ds4TbrZU/
https://www.tradingview.com/i/9LOEcb9h
https://www.tradingview.com/i/qymIgCWn
Comment
- Falling wedge on the 4-Hour Timeframe- Buyers Stepping In
- Hidden Bullish Divergence on the RSI
- MACD Seemingly About to Cross
Comment
**Update**
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