| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 84.63 |
| Take Profit | 79.40, 75.60 |
| Stop Loss | 88.33 |
| Key Levels | 75.60, 79.40, 88.33, 91.88, 95.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 88.35 |
| Take Profit | 91.88, 95.00 |
| Stop Loss | 87.15 |
| Key Levels | 75.60, 79.40, 88.33, 91.88, 95.00 |
The price is in a correction and a fall is possible.
On the daily chart, the first wave of the higher level (1) formed, a downward correction ended as the second wave (2), and the development of the third wave (3) started. Now, the first wave of the lower level i of 1 of (3) has ended, and a local correction is developing as the second wave ii of 1 of (3), within which the wave (a) of ii has formed. If the assumption is correct, the price of the asset will fall to the area of 79.40–75.60. In this scenario, critical stop loss level is 88.33.
Main scenario
Short positions will become relevant below the level of 88.33 with the targets at 79.40–75.60. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 88.33 will let the asset grow to the area of 91.88–95.00.
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