Tesla : Watch out 600
In the last post a wave B turning point was shown, price didn't quite get into the reversal zone but turned lower before that showing weakness in the rally power. Price is now in the last wave of this bigger corrective wave which could still be part of a even bigger corrective wave but that's too far away to worry about at the moment. Look for lower prices with a break of 600 coming first and eventually going well below 500.
The alternative is that wave B is not finished yet with another leg higher or a triangle forming. But looking at yesterdays candle and overall market weakness, the main count is preferred at this time.
The alternative is that wave B is not finished yet with another leg higher or a triangle forming. But looking at yesterdays candle and overall market weakness, the main count is preferred at this time.
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