A fall is possible.

On the daily chart, a downward correction of the higher level develops as the wave B, within which the wave (B) of B ended, and the development of the wave (C) of B started. Now, the entry first wave of the lower level 1 of (C) is forming, within which the wave iii of 1 has ended. If the assumption is correct, after the end of the local correction as the wave iv of 1, the price of the asset will fall to the area of 317.75–287.25. In this scenario, critical stop loss level is 452.00.

Main scenario

Short positions will become relevant below the level of 452.00 with the targets at 317.75–287.25. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 452.00 will let the asset grow to the area of 486.50–545.00.