| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 112.34 |
| Take Profit | 106.72, 101.38 |
| Stop Loss | 114.24 |
| Key Levels | 101.38, 106.72, 123.80, 130.00, 135.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 123.85 |
| Take Profit | 130.00, 135.00 |
| Stop Loss | 121.80 |
| Key Levels | 101.38, 106.72, 123.80, 130.00, 135.00 |
The price is in a correction and a fall is possible.
On the daily chart, a downward correction of the higher level ended as the wave B, and the wave C started, within which the entry first wave 1 of (1) of C formed. Now, a local correction develops as the second wave 2 of (1) of C, within which the wave a of 2 forms. If the assumption is correct, the price of the asset will fall to the area of 106.72–101.38. In this scenario, critical stop loss level is 123.80.
Main scenario
Short positions will become relevant below the level of 123.80 with the targets at 106.72–101.38. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 123.80 will let the price grow to the area of 130.00–135.00.
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