A small price squeeze here ahead of the earnings. Up or down?

Citi’s share price is approaching a key support level here sitting along the supportive trendline, reading $59.40. Currently, its share price sits at around $59.75 a share in the pre-market session.  A dip below $59.40 may entice the bears to push this stock lower as higher volatility is anticipated with the approaching earnings season. If that was the case, the focus would shift towards the area of $54.22-$56.52. Towards the upside, resistance is along the descending trendline which is clearly squeezing this stock towards a breakout in either direction. The resistance reads $61.39, a break above could see a test of $62.39 and maybe even this year’s high of $64.04. However, traders should take caution as the MACD is now showing increased volume towards the downside. The RSI is just about neutral but grinding lower, perhaps some profit-taking from investors ahead of the earnings. Citi is expected to report an EPS of $1.22 on revenue of $20.39bn.