Growth is possible.

On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the fifth wave (5) develops. Now, the third wave of the lower level 3 of (5) is forming, within which the wave iii of 3 is developing. If the assumption is correct, the asset will grow to the area of 420.00–440.00. In this scenario, critical stop loss level is 383.80.

Main scenario

Long positions will become relevant above the level of 383.80 with the targets at 420.00–440.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 383.80 will let the asset go down to the area of 358.30–342.00.