Growth is possible.

On the daily chart, the fifth wave of the higher level (5) develops, within which the wave 3 of (5) forms. Now, a correction has ended as the fourth wave of the lower level iv of 3, and the fifth wave v of 3 is developing. If the assumption is correct, the asset will grow to the area of 510.00–540.00. In this scenario, critical stop loss level is 430.00.

Main scenario

Long positions will become relevant above the level of 430.00 with the targets at 510.00–540.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 430.00 will let the asset go down to the area of 384.73–360.00.