Citibank Wave Analysis – 17 February, 2022

• Citibank falling inside impulse wave 3

• Likely to reach support level 64.68

Citibank continues to fall inside the impulse wave 3, which started earlier from the key resistance level 68.00 (which has been reversing the price from November), intersecting with the 50% Fibonacci correction of the previous downtrend from June.

The active impulse wave 3 belongs to the intermediate downard impulse sequence (3) from August.

Given the clear downtrend – Citibank can be expected to fall further toward the next key support level 64.68 (low of wave (iv) from the start of this month).