Citigroup shares are pulling back from their five-month high of 54.55. The medium-term downside target is to close the large gap formed after the July 15 quarterly report at 44.4.
However, the RSI indicator is now reversing up from the oversold zone. So that Citigroup could break the current wave of reduction. There is also an unclosed gap coinciding with a significant resistance level of 52.4. At first, the “bulls” may try to steer the quotes towards 52.4, before going to the lows. Then the downward movement has a better chance to resume.