Midterm structure keeps downward tone so far, which is going to be actual only until the break of 1495.00 high.
Thus we’ll see either a defense of this zone by sellers and as a consequence start of new strong downswing (watch the red arrow) or 1495.00 level will be broken driving to recovery of the quotes to the 1516.39-1519.17 region (watch the black trajectory).
Local structure resides in an extreme phase of upward correction. Here it also can be well seen, that break of 1495.00 will lead to stabilizing of mid-term uptrend, therefore there is a high probability of activity from bears and as a consequence intraday struggle of players. Though it’s sellers, who have positioning advantage.
Main scenario: Start of new downswing in direction 1480.00.
Alternative scenario: Break above 1495.00 and further growth towards 1500.00 and 1510.00.
Below 1495.00 - shorts towards 1480.00.
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