Tesla (TSLA) 15-Minute Chart Analysis
Key Observations:
Harmonic Pattern Formation:
The chart shows a Bearish Harmonic Pattern (possibly a Gartley or Bat pattern).
The pattern completed at point X, near 235 - 236 USD, suggesting a potential reversal zone.
Bearish Rejection at Resistance:
The price reached the X-point resistance and is showing signs of rejection.
The black arrows indicate a possible move downward, confirming a bearish scenario.
Support and Resistance Levels:
Resistance Zone: Around 235 - 236 USD (where the price reversed).
Support Zone: Near 228 - 230 USD, which could be the first downside target.
Volume Consideration:
There is high volume at the bottom, which suggests previous buying pressure.
If selling pressure increases near X, it strengthens the bearish outlook.
Trade Outlook:
Bearish Scenario: If the price continues to reject at 235 - 236 USD, it could drop toward 228 - 230 USD.
Confirmation: A break below 230 USD may accelerate the decline toward 225 USD.
Invalidation: A strong breakout above 236 USD would invalidate the bearish setup and suggest further upside.