This Thread will have daily Updates on $TNA
December 28, 2016
The setup we sent yesterday (link) got invalidated, market managed to advance during the first minutes just to get rejected at resistance chart here (link). We stopped out on the trade position we have been using in this area at 104.90 and again at 101.1. What takes our attention is that price did not break decisively under 99.95 and there was huge selling pressure, so based on EW we need price to break above 107.5 or under 99.95 while price is contained within this range we can not make a useful call for trading purposes, under 99.95 we can project 96.25 at a minimum on TNA so we have to wait..
Joel revised his charts and it looks like lots of stocks stopped at various supports. T-line or 20 DMA or GFG or deep daily retrace fibs.Unless bears keep the pressure on, we should have a decent rebound or more.
What is clear is that traders are getting bearish into next week; PCR is as high as 4.462, so we have to observe closer.
