The price, having reached the year’s high, has stalled at these levels. It is unlikely that we will see further upward movement, as a full impulse wave has likely formed, possibly being wave 1 in an emerging extension of wave [iii].

Therefore, in the near future, there is a high probability of a corrective decline, during which wave 2 will form. It is currently assumed that this wave will take the form of a simple zigzag, but it cannot be ruled out that it may become more complex, thereby taking even more time.

In this situation, it is worth considering the possibility of making sell trades at current market levels. The potential for a corrective pullback in this case is quite interesting.

Recommendations: Sell 1.2970, SL 1.2995, TP 1.2860.