Citibank Wave Analysis – 19 August, 2022

• Citibank reversed from resistance level 54.00

• Likely to fall to support level 50.65

Citibank recently reversed down from the pivotal resistance level 54.00 (former monthly low from March – which has been reversing Citibank from the time it was broken in April), strengthened by the upper daily Bollinger Band.

The downward reversal from the resistance level 54.00 started the active medium-term downward impulse wave (5).

– Citibank can be expected to fall further toward the next support level 50.65 (low of the earlier wave (ii) from the start of August).