For today's chart we've chosen to take a look at Citigroup Inc
) because it is trading near an interesting level of resistance
. As you can see from the chart below, the bulls have been able to send the price higher over the past week, but the nearby resistance (shown by the dotted line) is suggesting that the bears are getting ready to make their move. We'd expect to see this stock continue trending lower until the price closes above the trendline. We also believe that this resistance level will continue to dominate the price action in the weeks ahead and that it will get exponentially more difficult to move higher as the price gets closer to $25.