Citigroup: ⬆️ Buy
– Citigroup reversed from support zone
– Likely to rise to resistance level 127.00
Citigroup recently reversed up from the support zone between the support level 119.50 (which stopped wave 4 at the end of May and wave (i) at the end of October), the support trendline of the daily down channel from July, the lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from March.
The upward reversal from this support zone started the active short-term correction inside the C-wave of the ABC correction (4) from the end of June.
Given the strength of the aforementioned support zone, Citigroup can be expected to rise further toward the next resistance level 127.00 – which stopped wave A at the end of July and wave (ii) earlier this month.