Friends,
We currently have a bullish shark pattern forming on the daily chart on Citigroup. The pattern will complete at 48.20's level, and expires at 47's level, the entry level for the shark pattern is confluent with structural support, increasing the integrity of this pattern.
Citigroup is also currently in a area of historic support/resistance. This is an area where people are looking for buying opportunities. I'm keeping my eye on this one at the moment, looking for a buy opportunity. The stochastic is currently in an oversold condition, and probably will be the for next few days, so buying pressure might begin to take fold and show some bullish signals. The S/R zone could prove to be a good zone to buy this, BUT at this moment in time it is NOT ready to buy. But over the next few days a buying opportunity could possibly arise in this historic S/R level.
(Note: We've been bearish on the last 2 days candles, and todays candle SO FAR.)
Good luck traders.
We currently have a bullish shark pattern forming on the daily chart on Citigroup. The pattern will complete at 48.20's level, and expires at 47's level, the entry level for the shark pattern is confluent with structural support, increasing the integrity of this pattern.
Citigroup is also currently in a area of historic support/resistance. This is an area where people are looking for buying opportunities. I'm keeping my eye on this one at the moment, looking for a buy opportunity. The stochastic is currently in an oversold condition, and probably will be the for next few days, so buying pressure might begin to take fold and show some bullish signals. The S/R zone could prove to be a good zone to buy this, BUT at this moment in time it is NOT ready to buy. But over the next few days a buying opportunity could possibly arise in this historic S/R level.
(Note: We've been bearish on the last 2 days candles, and todays candle SO FAR.)
Good luck traders.