A fall is possible.

On the daily chart, the development of the fifth wave of the higher level (5) of А started, within which the wave 1 of (5) forms, and a downward correction develops as the wave 2 of (5). Now, the wave a of 2 is forming, within which the third wave of the lower level (iii) of a has formed. If the assumption is correct, after the end of a local correction as the fourth wave (iv) of a, the asset will fall to the area of 178.00–162.60. In this scenario, critical stop loss level is 212.50.

Main scenario

Short positions will become relevant below the level of 212.50 with the targets at 178.00–162.60. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 212.50 will let the asset grow to the area of 231.10–243.40.