A fall is possible.

On the daily chart, the first wave of the higher level (1) of 5 ended, within which the wave 5 of (1) formed, and a downward correction develops as the second wave (2) of 5. Now, the wave А of (2) has formed, the upward correctional wave B of (2) has ended, and the wave C of (2) is developing, within which a local correction is ending as the second wave of the lower level ii of C. If the assumption is correct, the price of the asset will fall to the area of 120.20–115.30. In this scenario, critical stop loss level is 139.10.

Main scenario

Short positions will become relevant below the level of 139.10 with the targets at 120.20–115.30. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 139.10 will let the asset grow to the area of 145.45–153.35.