BengalTigger

BengalTigger

We tagged the 35 area which was the POC for the entire year of 2018. IF we look carefully, we consolidated between 2620 and 2790 for 2 months in 2018 (Oct-Dec) before breaking lower. For the sake of symmetry this could potentially be the case currently. For now, as I have mentioned before, the 2704-2695 area is VST and ST support. AS long as these hold, then the...

BengalTigger

55.80 is proving to be a bit tough and we went right back down to some ST support at the 53.20 area. Again, we are bouncing off in another attempt to break higher. There is a potential H&S (just pointing it out). IF it keeps battering this area, it will give. Lets, just say that for now, holding above 53 or so augurs well for higher prices.

BengalTigger

Once again, we continued to push higher and broke out of the 16 area which had provided some resistance on Friday. Now the level to watch is 2728-35. I think we may get a slight PB thereafter. For now, ST support is around the 92-95 area and then below around the 75 area. I did not expect this grind up after the open. I expected this to stall around the 09 area...

BengalTigger

Did not quite get to 55.86 but close enough. We are closing on a the Maginot line above which there is thin air till the 66 -68 area. Of course all o f this has to be taken contextually. This was the area that also saw a lot of trading in December. IF this breaks higher then no telling where this could end up. I am watching this closely.

BengalTigger

AS expected we tagged the the downtrend line from 2947 and actually closed above it. Interesting action on Friday with 2 rotations up and down. We almost tagged the 1618 extn at 22.5 but the 15 area proved a bit much. Just because we are above the down trend line does not mean that the down tredn is over. I mean, this can continue further and then drop again. Lets...

BengalTigger Updated 

We hit the 54.60 level and since then have been playing tease. I suspect this might be the beginning o a series of 1's and 2's and if that be the case I am expecting another failure around 53.56 area which is likely to be sold to the 48.80 level. The level from 50-54.5 has had considerable amount of back and forth from December. I suspect a move out of this area...

BengalTigger

Gotta be honest here, Did not expect a move up and out. My expectation was for a spike up only to be sold. As SVI says "ya never know who's lurking in the shadows". Having come this far it seems reasonable to expect the trend line from 2947 to be tagged . Roughly the 2710 area. The nagging question is that open gap at 41 from yday? Do we fill it prior or after....

BengalTigger Updated 

Jan 19 :We did try to push up to the 1315 area but the 100% symm resistance around the 1295 area was a bit too much on this try. For now, there is lots of Fib confluence from about 1260. My expectation is a PB to around 1265 before another attempt higher. Now, given the news cycle re trade talks, any announcement might have more than a negative effect if the news...

BengalTigger Updated 

Jan 24. All we have managed to do in spite of two days of 70pts swing is to trade approx 20 points above and below the 35 area. It appears that a move out of this area is coming and my bias is to the upside. As long as the 30 area holds, I do see the 66-68 area reached. Given that any news can be used for or against an idea, I understand there is a vote in the...

BengalTigger

All we have managed to do in spite of two days of 70pts swing is to trade approx 20 points above and below the 35 area. It appears that a move out of this area is coming and my bias is to the upside. As long as the 30 area holds, I do see the 66-68 area reached. Given that any news can be used for or against an idea, I understand there is a vote in the senate...

BengalTigger

Jan 18 Jan 9 Whoa! 5.5%. I guess the reverse of what happened on the way down. Hell, yday I was talking about 50.80 as potential resistance but had a resistance line at 51.47. Had no idea the move would be that big. Anyways, I had said a couple of days back, that CL is on a mission and will get where it wants before giving up the ghost. For now, if the 51 area...

BengalTigger Updated 

It was only yesterday I wrote about the break of the 47 area to head towards 36 and 26. Well, I got more than I bargained for. we hit a low of 2615. It took me by surprise. Anyways for those nimble traders we got 2 way action today. The PB is upon us, but to be honest, I expected at ouch of the 2710 area before the PB. MY expectation is for this current move from...

BengalTigger

I expected the O/N low to be broken on a retest today. A bit hopeful. As I had forgotten that today was a holiday and that it would be light. For now, the 57 area, is acting as symm support. Waiting to see if they fill the gap at 68 and continue higher or come down to the 46, 36 and 26 areas, where there should be some greater support. 26 acted as resistance...

BengalTigger

We did try to push up to the 1315 area but the 100% symm resistance around the 1295 area was a bit too much on this try. For now, there is lots of Fib confluence from about 1260. My expectation is a PB to around 1265 before another attempt higher. Now, given the news cycle re trade talks, any announcement might have more than a negative effect if the news is good...

BengalTigger Updated 

Jan 9 Whoa! 5.5%. I guess the reverse of what happened on the way down. Hell, yday I was talking about 50.80 as potential resistance but had a resistance line at 51.47. Had no idea the move would be that big. Anyways, I had said a couple of days back, that CL is on a mission and will get where it wants before giving up the ghost. For now, if the 51 area holds,...

BengalTigger

Jan 9 IWM came out of the bearish wedge I referred to yday. It is possible that we might get only a shallow PB before another attempt to 144-145 where it might fail for a deeper correction. For now, 139-140.8 is support lets see what happens there. Jan 10 Comment: I threw the idea of a shallow PB . Perhaps thats all it is Almost touched support. Similar pattern...

BengalTigger

Jan 16 i don't know what happened but my old chart kind of got messed up. Do not like this but will try and recreate the old one. Anyways, the 2626-2630 level got tagged today and we sold off!. That level was not only a fib level, but also the bottom of the range of Oct/Nov from where we broke down and so was likely to act as resistance. For now, I se support at...

BengalTigger Updated 

I don't know what happened but my old chart kind of got messed up. Do not like this but will try and recreate the old one. Anyways, the 2626-2630 level got tagged today and we sold off!. That level was not only a fib level, but also the bottom of the range of Oct/Nov from where we broke down and so was likely to act as resistance. For now, I se support at the...