A fall is possible.

On the daily chart, a downward correction of the higher level develops as the wave B, within which the wave C of (B) ended, and the wave (С) of B develops. Now, the entry first wave of the lower level 1 of (С) is developing, within which the wave iii of 1 is forming. If the assumption is correct, the downward dynamics of the asset will increase to the area of 317.75–287.25. In this scenario, critical stop loss level is 484.10.

Main scenario

Short positions will become relevant below the level of 484.10 with the targets at 317.75–287.25. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 484.10 will let the asset grow to the area of 545.00–600.00.