The price is in a correction and a fall is possible.

On the weekly chart, the third wave of the higher level 3 ended, and a downward correction started as the fourth wave 4. Now, the wave (А) of 4 is developing, within which the first wave of the lower level 1 of (А) has formed, and a local correction is developing as the second wave 2 of (A). If the assumption is correct, after the correction the price of the asset will fall to the area of 230.00–190.32. In this scenario, critical stop loss level is 281.90.

Main scenario

Short positions will become relevant below the level of 281.90 with the targets at 230.00–190.32. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 281.90 will let the asset grow to the area of 302.45–330.00.