Here's my first practice trade of the day. A short of TNA at 59.70 and profit taking cover at 59.42 at the Pivot as I expected a bounce. We might see TNA drop to the $59.10 area later.
Important to note: The white oval encircles the second touch of the Magenta colored line that I was watching from Friday, an area I decided to watch for potential Support/Resistance. It was hardly resistance the first time it was touched during the strong upward drive from this morning. But it sure held as temporary support as I surmised with price consolidating around it for a short time. A likely point of resistance in the future.
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