As you can see Citi broke down from this rising wedge last week and is now testing the under belly as resistance, which also coincides with the .786 fib retracement on the weekly timeframe. A close above the .786 on a weekly basis would cancel the bearish view, otherwise the path of least resistance is to the downside.
Trade active
Citi has rallied right up into the area where the 2 trendlines converge and was rejected. Still bearish on Citi, nothing has changed
Trade closed: stop reached
Citi is ripping higher this week. Trade closed
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.