Tesliano

We are expecting at least a 3.5 % drop from this point towards lower Support zones. The descending channel is still holding. Scenario 1: a brief upper correction facing the red zone & probably slightly crossing the channel, thus collecting liquidity. Scenario 2: a Sharp drop from here towards the green rendezvous support zone. Safe Trade.

A small yet Important update for the recent analysis. 1st, we have a Strong red resistance line stretching back to the origin of this whole big bearish leg from the Top of SEP 18. This line has been respected several times & has proven to be powerful. That same line was retested today with clear rejection. 2nd, we have a second ascending purple channel, next to the major blue one. It is more visual in the 30mn time frame. Also, the chart has just broken this channel. So We have Retested blue channel 1 for the 2nd time & just broken purple channel 2. Add to this that we have also reached Fibonacci 1 in a Potential corrective wave C. These 4 Signals are giving the upper hand for a more downward move while we are approaching the FVG zone. We might witness a retest of the channel 2 lower border before proceeding down. An upward move is still valid yet getting weaker by the minute. Safe Trade.Pressure is sill downward - the last line of defense almost gone & so the 121 will be breached soon