TNX has recently broken from a long term weekly pattern (blue s/r, wedge pattern resistance) and we are currently watching the degree of pull back. There is potential for a drop back to the larger weekly pattern to retest the s/r that has been broken out of.  An initial break of 2.3 offers potential opportunity for a drop to fill the first gap, with a another potential drop to the next blue s/r zone below, to retest the pattern s/r and fill the lower gap (yellow highlights).

A lift over 2.64 could be the continuation of the severe lift and a move to the next blue s/r zone around 3.0. Note that there are a few technicals in the way of the lift and these could stop it. Orange arrows offer some potential possibilities.  Given the overall strength showing at the moment, another gap up, similar to the last, could occur again.. and these sometimes occur in threes...

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