Growth is possible.

On the daily chart, the first wave of the higher level (1) formed, and a downward correction ended as the second wave (2), within which the wave C of (2) formed. Now, the third wave (3) is developing, within which the first wave of the lower level i of 1 of (3) is forming. If the assumption is correct, the asset will grow to the area of 83.60–94.00. In this scenario, critical stop loss level is 66.90.

Main scenario

Long positions will become relevant above the level of 66.90 with the targets at 83.60–94.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 66.90 will let the asset go down to the area of 58.00–51.65.