Tesla : Support zones
Not much has happened since yesterdays post, but i wanted to share this hourly chart which shows the support zones. First one is the one price is currently in. This is about to break lower to the next support zone. This second area has a lot of things to support price. The 100% fib extension from the wave b(circle) top, the trendline from the wave a(circle) low, previous support and the EW projection of wave a.
If the EW count is correct price should break the 1st zone to find support at 2nd zone. Run back up to zone 1 resistance only to go back to zone 2 support and break lower. Once the 2nd zone breaks price could move fast.
If the EW count is correct price should break the 1st zone to find support at 2nd zone. Run back up to zone 1 resistance only to go back to zone 2 support and break lower. Once the 2nd zone breaks price could move fast.
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