| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 214.52 |
| Take Profit | 225.00, 235.00 |
| Stop Loss | 211.02 |
| Key Levels | 163.60, 178.20, 200.80, 225.00, 235.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 200.75 |
| Take Profit | 178.20, 163.60 |
| Stop Loss | 208.25 |
| Key Levels | 163.60, 178.20, 200.80, 225.00, 235.00 |
Growth is possible.
On the daily chart, the correction ended as the fourth wave of the higher level 4, the fifth wave 5 develops, and the third wave of the lower level (3) of 5 forms. Now, the wave 5 of (3) and v of 5 is developing after the wave iii of 5 has formed, and the correction has ended as the wave iv of 5. If the assumption is correct, the asset price will grow to the area of 225.00–235.00. In this scenario, critical stop loss level is 200.80.
Main scenario
Long positions will become relevant above the level of 200.80 with the targets at 225.00–235.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 200.80 will let the asset go down to the area of 178.20–163.60.
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