I am sharing the technical analysis of #tsla for the week starting 29 November 2021. I’m using the following indicators:
First off, I start my technical analysis with the weekly chart time frame then I scale down to M15.
So far, we can see bullish rally, just bullish rally. However, I see that the price is close to the bottom edge of the raising channel in the daily time frame with bearish candlestick. Now, let’s go down further.
My mind is telling me Sell because investors are buying Gold, given the raise in Covid cases and the new variant. Let’s see the technical analysis first and keeps those emotions away for now.
Last two candles in the daily chart are bearish candles with a hammer, pushing the price down. Continue…
H4 and H1 channels are almost parallel to each other and both are raising. But M5 channel is pushing the price down. Let’s check M15 chart.
Don’t forget, I have my template files saved in MT5 and I simply right click and choose the one that matches the chart time frame. Get them from here.
We’re on M15 chart now, and I’m expecting a pullback from this level up to the next resistance before the price falls to 990 USD. Then we should see a bullish rally again.
What I see is that the price should reach the bottom edge of the raising channel in D1 time frame first before we see the bullish rally again.
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