Categories: Technical analysis

Tesla Wave Analysis – 16 November, 2022

• Tesla reversed from resistance level 200.00

• Likely to fall to support level 180.00

Tesla recently reversed down from the round resistance level 200.00 (previous monthly low from the middle of October), intersecting with the 38.2% Fibonacci correction of the downward impulse from October.

The downward reversal from the resistance level 200.00 continues the active short-term impulse wave 3 of the intermediate impulse wave (3) from September.

Given the clear daily downtrend, Tesla can be expected to fall further toward the next support level 180.00

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The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: Tesla

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