Growth is possible.

On the daily chart, the upward wave of the higher level C forms, within which the first wave (1) of C develops. Now, the third wave of the lower level 3 of (1) has ended, a correction has formed as the fourth wave 4 of (1), and the fifth wave 5 of (1) is forming, within which the wave iii of 5 is developing. If the assumption is correct, the asset will grow to the area of 850.00–900.00. In this scenario, critical stop loss level is 683.93.

Main scenario

Long positions will become relevant above the level of 683.93 with the targets at 850.00–900.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 683.93 will let the price go down to the area of 588.10–541.43.