The current structure indicates that the rapid and powerful bullish trend continues to gain strength. The market is already very close to the upper green bound and even temporarily went above it.
If the break of the resistance level of 294.48 is confirmed, the growth can be continued to the next resistance level of 321.59, which is on the upper bound of the yellow channel.
The implementation of an alternative scenario is possible if the bears start to put pressure on the price. Thus, if the support level of 279.64 is broken below, the bears may open a path towards the lower green bound and the support level of 254.45.
