| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 76.55 |
| Take Profit | 60.00, 50.00 |
| Stop Loss | 84.60 |
| Key Levels | 50.00, 60.00, 84.60, 103.00, 121.18 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 84.65 |
| Take Profit | 50.00 |
| Stop Loss | 103.00, 121.18 |
| Key Levels | 50.00, 60.00, 84.60, 103.00, 121.18 |
The probability of decline remains.
On the daily chart, the construction of a downward correction of the higher level continues as wave 2, which includes wave (C) of 2. At the moment, the third wave 3 of (C) and the local correction as the fourth wave 4 of (C) have ended. If the assumption is correct, the asset will decrease to the area of 60.00–50.00. The level of 84.60 is critical and stop-loss for this scenario.
Main scenario
Short positions are relevant below the level of 84.60 with targets at 60.00–50.00. Implementation time: 7 days and more.
Alternative scenario
Breakout and consolidation of the price above 84.60 will allow the instrument to continue its uptrend to the area of 103.00–121.18.
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