Citibank Wave Analysis – 21 August, 2020

• Citibank reversed from support zone

• Likely to rise to 55.00

Citibank today reversed up from the support zone located between the pivotal support level 49.20 (former resistance from April).

The support zone near the support level 49.20 is strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of the upward impulse from May.

Citibank is likely to rise further toward the next resistance level 55.00 (top of the previous short-term impulse wave 3).