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Citigroup Is Still Pointed Down

Bruce Kamich

The daily On-Balance-Volume (OBV) line shows a little improvement from a late May low. The 12-day price momentum study shows a higher low now than in late May creating a bullish divergence when compared to the roughly equal lows on the price chart. The weekly OBV line is bearish as is the Moving Average Convergence Divergence (MACD) oscillator.