Growth is possible.

On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the fifth wave (5) develops. Now, the entry first wave of the lower level 1 of (5) is developing, within which the wave iii of 1 of (5) has formed. If the assumption is correct, after the end of the local correction as the wave iv of 1 of (5), the price of the asset will grow to the area of 205.50–220.00. In this scenario, critical stop loss level is 182.00.

Main scenario

Long positions will become relevant above the level of 182.00 with the targets at 205.50–220.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 182.00 will let the asset go down to the area of 169.00–163.25.