| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 155.92 |
| Take Profit | 164.00, 170.00 |
| Stop Loss | 150.00 |
| Key Levels | 122.43, 137.00, 150.00, 164.00, 170.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 150.00 |
| Take Profit | 137.00, 122.43 |
| Stop Loss | 154.35 |
| Key Levels | 122.43, 137.00, 150.00, 164.00, 170.00 |
The possibility of growth remains.
On the daily chart, a downward correction has completed as the fourth wave of the higher level 4 and the formation of the fifth wave 5 is observed, in which the first wave of the lower level (1) of 5 develops. At the moment, the formation of wave 3 of (1) continues, in which the third wave of the lower level iii of 3 is developing. If the assumption is correct, the price will rise to the area of 164.00–170.00. The level of 150.00 is critical and stop-loss for this scenario.
Main scenario
Long positions are relevant above the level of 150.00 with targets at 164.00–170.00. Implementation time: 7 days and more.
Alternative scenario
Breakdown and consolidation of the price below the level of 150.00 will allow the trading instrument to continue its downward dynamics to the area of 137.00–122.43.
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