The possibility of growth remains.

On the daily chart, a downward correction has completed as the second wave 2, in which wave (C) of 2 has formed and the third wave 3 has begun to develop. At the moment, the first entry wave of the lower level 1 of (1) of 3 is being observed, in which wave iii of 1 appeared and wave iv of 1 is nearing completion. If the assumption is correct, the price will rise to the levels of 36.86–44.65. The level of 27.70 is critical and stop-loss for this scenario.

Main scenario

Long positions are relevant above the level of 27.70 with targets at 36.86–44.65. Implementation time: 7 days and more.

Alternative scenario

Breakdown and consolidation of the price below the level of 27.70 will allow the trading instrument to continue its downward dynamics to the area of 25.00–20.82.