Tr8dingN3rd

C - Citigrup struggles again at same centerline

NYSE:C   Citigroup, Inc.
Context
Intact UT and a massiv accumulation coil.
Struggling with the old resistance and the A/R lines.
Checking the past behaviour at these lines, we would
be tempted to short this C. But when i think how much
energy is probably built in the coil, it would scare me to
to pull the trigger.

Price Action
  • Last month's high closing, and relatively higher vola bar
  • open and close above the (red) resistance line

I see two scenarios:
a) rejected by the CL & A/R line and back into the coil or
b) support above the red resistance line, or on the roof of the coil

Enjoy your weekend
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.