Citigroup Trend May Be Changing as Price Just Breached Below Its 20 Day Moving Average

The Hourly View for Citigroup

  • At the moment, C’s price is up $0.52 (0.74%) from the hour prior.
  • Citigroup has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes.
  • Of note is that the 200 hour changed directions on C; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Citigroup’s hourly price chart is shown below.

C

The Daily View for Citigroup

  • Currently, C’s price is up $1.9 (2.78%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Citigroup.

C

Featured Citigroup Idea From TradingView

Below is a trading comment entitled XAUUSD may be in the Hands of Bears you may find interesting:

I suggest you take a look at the wave structure of XAUUSD on the monthly chart.It is possible that a flat or a triangle of degree Cycle unfolds along the XAUUSD . It is not yet time to count the waves of a triangle of this scale, so I will consider the flat.I assume that wave b was completed at $2075 , and now wave c is unfolding, which should be the impu…

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