Growth is possible.

On the daily chart, a downward correction of the higher level forms as the wave B, within which the wave (А) of B ended, and an upward correction forms as the wave (B) of B. Now, the wave of the lower level A of (B) is developing, within which the third wave iii of A has formed, and a local correction is starting to develop as the wave iv of A. If the assumption is correct, the asset will grow to the area of 147.00–158.00. In this scenario, critical stop loss level is 118.35.

Main scenario

Long positions will become relevant above the level of 118.35 with the targets at 147.00–158.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 118.35 will let the asset go down to the area of 112.65–107.15.