DOW 2.62% $4.46 downer edi limited

citigroup to fall?? (chart)

  1. 779 Posts.
    Hmm looks like the evidence is against citigroup from rising in the short term.
    It has hit the upper downsloping channel line yesterday with a doji forming.
    Incidentally it is also smack on the 50% fib retracement level as well. Additionally the gap overhead was not taken out yesterday (missed by 19c), so this gap seemingly is acting as resistance??
    I will be taking a short position on the confirmation of price weakness, with my price target $45. This is the 38.2% fib level. This level being reached would also take out the gap created last week.

    Regards

    Commy





    Moved from the "United States" forum. Original message number: 35
 
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