Citibank Wave Analysis – 14 July, 2022

• Citibank under bearish pressure

• Likely to fall to support level 42.00

Citibank under the bearish pressure after the price broke below the strong support level 45.25 (which has been steadily reversing the price from the middle of May).

The breakout of the support level 45.25 should accelerate the active minor impulse wave (iii) of the higher order impulse wave 5 from May.

Given the clear daily downtrend, Citibank can be expected to fall further toward the next support level 42.00 (target for the completion of the active minor impulse wave (iii)).