Growth is possible.

On the daily chart, a downward correction ended as the fourth wave (4), and the fifth wave (5) develops, within which the wave 3 of (5) forms. Now, the third wave of the lower level iii of 3 has formed, a correction has ended as the fourth wave iv of 3, and the fifth wave v of 3 has started. If the assumption is correct, the asset will grow to the area of 300.00–310.00. In this scenario, critical stop loss level is 254.10.

Main scenario

Long positions will become relevant above the level of 254.10 with the targets at 300.00–310.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 254.10 will let the asset go down to the area of 242.55–227.65.