• Citibank reversed from resistance level 54.00
• Likely to fall to support level 50.00
Citibank recently reversed down from the key resistance level 54.00 (the former monthly low from March and the monthly high from April).
The resistance zone near the resistance level 54.00 was strengthened by the upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from February.
Given the clear daily downtrend, Citibank can be expected to fall further toward the next round support level 50.00.