The price is beginning to develop a corrective structure. This was expected, and such a scenario had been anticipated earlier. This is due to the fact that a downward impulse, presumably wave 1, had formed previously and is currently under review.

The observed correction, in this case, takes on the role of wave 2 and, so far, does not seem to have fully formed. This means that the start of the trading week may be rather sluggish and uneventful. The price is likely to trade within a narrow range for some time before a resumption of the downward impulse movement is expected.

In this situation, it is recommended to wait for a breakout, and when the minimum set by wave 1 is updated, enter sell trades.

Recommendations: Sell 154.75, SL 155.00, TP 150.00.