The price may fall.

On the daily chart, a downward correction ended as the fourth wave of the higher level 4, and the fifth wave 5 develops, within which the third wave of the lower level (3) of 5 ended. Now, the wave 5 of (3) has formed, and a correction has started as the fourth wave (4) of 5. If the assumption is correct, the price of the asset will fall to the area of 190.83–178.20. In this scenario, critical stop loss level is 225.25.

Main scenario

Short positions will become relevant below the level of 225.25 with the targets at 190.83–178.20. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 225.25 will let the asset grow to the area of 235.00–245.00.