Citigroup - Expecting a short term correction to the downside
Since the start of 2016, price has been rallying in a 5-wave structure to the recent high at 69.81 earlier this year in August.
RSI has formed a divergence as well, giving us another confluence of a potential retracement lower from here.
We are expecting price to correct to the downside towards 61.60 or even lower towards 56.44 area in the short term before another move higher.
*Disclaimer - ensure that you have analysed the fundamental of this company and do your own due diligence before trading.
RSI has formed a divergence as well, giving us another confluence of a potential retracement lower from here.
We are expecting price to correct to the downside towards 61.60 or even lower towards 56.44 area in the short term before another move higher.
*Disclaimer - ensure that you have analysed the fundamental of this company and do your own due diligence before trading.