Citigroup tries to hold below the support – analysis - 02/05/2016

CITIGROUP shares ended Friday trades with the end of the last week trades with a decline that reached (-0.45) point or(-0.96%) from the previous rise, comes after the price recorded its highest level during the week before at 47.30, to decline retesting 46.45 support and to rise again facing the same highs during the previous trades.

The price fell trying to retest the support level 46.45 during the current trades, as if this support held it will push the price to rise back targeting the resistance level 48.50, but it must pass 47.30 level and hold above it, but trading and holding below the mentioned support will push the price to target the next support at 45.50.