February 11, 2012

Dark Cloud Cover of citigroups Inc

  • Citigroup closed in red on Friday after a Dark cloud cover pattern. Week candle too looks bearish. Falling below 32.64 level will target the 20 Day SMA. Bigger correction possible only if price closes below 20 Day SMA. 
  • Last chart is the weekly time frame shown with a resistance line which was broken last week. Bears need to break below this resistance line for a bigger correction to unfold. Price staying above this resistance line will favor bulls for an up move.
  • S& 500 ANALYSIS AFTER CLOSING BELL

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