| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 69.25 |
| Take Profit | 50.00, 40.00 |
| Stop Loss | 77.50 |
| Key Levels | 40.00, 50.00, 77.50, 89.55, 103.86 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 77.55 |
| Take Profit | 89.55, 103.86 |
| Stop Loss | 73.55 |
| Key Levels | 40.00, 50.00, 77.50, 89.55, 103.86 |
A fall is possible.
On the daily chart, the upward wave of the higher level А ended, and a downward correction develops as the wave B, within which the wave (C) of B forms. Now, the third wave of the lower level 3 of (C) is developing, the wave iii of 3 has formed, and the wave iv of 3 is ending. If the assumption is correct, the price of the asset will fall to the area of 50.00–40.00. In this scenario, critical stop loss level is 77.50.
Main scenario
Short positions will become relevant below the level of 77.50 with the targets at 50.00–40.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 77.50 will let the asset grow to the area of 89.55–103.86.
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