Growth is possible.

On the daily chart, a downward correction of the higher level ended as the wave B, and the wave C develops, within which the entry first wave 1 of (1) of C formed. Now, a downward correction has ended as the second wave 2 of (1) of C, within which the wave c of 2 has formed, and the third wave 3 of (1) has started. If the assumption is correct, the asset will grow to the area of 123.60–135.00. In this scenario, critical stop loss level is 83.87.

Main scenario

Long positions will become relevant above the level of 83.87 with the targets at 123.60–135.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 83.87 will let the price go down to the area of 66.00–50.50.