Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: Citibank

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