Top three charts of the week: Tesla, OIL.WTI, AUDUSD

• Tesla enjoys parabolic rally
• OIL price hits a 1-year low
• AUDUS bounced off the key support 

Tesla

Tesla share price has more than doubled this year. Stock finished yesterday’s session at $887 handle after an attempt of testing the $1000 level during the session. Many investors say Tesla gains are not supported by fundamentals but few of them are willing to bet against the ongoing rally. With Tesla trading in uncharted waters and gaining strongly each session, the question remains whether there is an end to this madness? The psychological $1000 handle will certainly be a key level to watch. Traders should look for strong “sell” signals before deciding to short this rally. 

TSLA.US D1 interval. Source: xStation5

OIL.WTI

The technical situation on OIL.WTI is also worth a note. The price of the commodity reached fresh yearly lows as it broke below the zone at $51. As long as the price sits below it, a downward move looks to be the base case scenario. However, a rebound can be spotted during today’s session. A break back above the aforementioned $51 handle, the could generate a bullish signal. In such a scenario,  a bigger upward correction could be delivered and bulls could look towards the resistance zone at $55.

OIL.WTI D1 interval. Source: xStation5

AUDUSD

Last but not least, let's move to AUDUSD chart. The pair launched recovery after yesterday’s RBA interest rate decision. The pair bounced off the key support zone, that is marked with last year’s lows. The upward correction reached the resistance at 0.6765 which should be considered a key level for now. The short-term situation will depend on whether the pair breaks or pulls back from this hurdle. The resistance is marked with lows from November 2019 and the upper limit of Overbalance structure. According to the methodology, as long as the price sits below it, the trend remains downward. 

AUDUSD D1 interval. Source: xStation5