The probability of decline remains.

On the daily chart, the construction of a downward correction of the higher level continues as wave 2, which includes wave (C) of 2. At the moment, the third wave 3 of (C) and the local correction as the fourth wave 4 of (C) have ended. If the assumption is correct, the asset will decrease to the area of 60.00–50.00. The level of 84.60 is critical and stop-loss for this scenario.

Main scenario

Short positions are relevant below the level of 84.60 with targets at 60.00–50.00. Implementation time: 7 days and more.

Alternative scenario

Breakout and consolidation of the price above 84.60 will allow the instrument to continue its uptrend to the area of 103.00–121.18.