forker

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
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