| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 921.10 |
| Take Profit | 1100.00, 1200.00 |
| Stop Loss | 861.50 |
| Key Levels | 575.17, 648.10, 754.50, 1100.00, 1200.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 754.45 |
| Take Profit | 648.10, 575.17 |
| Stop Loss | 789.90 |
| Key Levels | 575.17, 648.10, 754.50, 1100.00, 1200.00 |
Growth is possible.
On the daily chart, a downward correction formed as the second wave of the higher level (2), and the upward third wave (3) develops. Now, the third wave of the lower level 3 of (3) is forming, within which the wave iii of 3 has ended, a local correction has formed as the wave iv of 3, and the wave v of 3 is forming. If the assumption is correct, the asset will grow to the area of 1100.00–1200.00. In this scenario, critical stop loss level is 754.50.
Main scenario
Long positions will become relevant above the level of 754.50 with the targets at 1100.00–1200.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 754.50 will let the asset go down to the area of 648.10–575.17.
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