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On the daily chart, the instrument is trading in the Bullish trend of the higher level.Now the fifth wave has formed in the bearish channel of the short term. If the assumption is correct, the price will grow to the level 1333.40. The level of 1281.52 is critical and stop-loss for this scenario. Long position will become relevant during the correction, above the level of 1300.80 with the target at 1333.40.The breakdown and the consolidation of the price below the level of 1281.50, will let the price go down to the level of 1270.00.