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Commodity Trading Discussion Forum

Bearish Sign *PIC*

Posted By: Trades
Date: Monday, 2 November 2009, at 1:05 p.m.

Here is a chart of Goldman Sachs which is a leader in the financials. Price is clearly breaking down below support and next support is a long ways away. Not a good sign overall. Note the RSI 21 breaking below the 50 line for the 1st time since the March lows as well as price breaking below the 50ema. The Modified MACD is still above the 0 line but is not a quick moving indicator.

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