Growth is possible.

On the daily chart, a downward correction of the higher level formed as the second wave (2), within which the wave C of (2) developed, and the development of the third wave (3) started. Now, the first wave of the lower level i of 1 of (3) is forming, within which the wave (iii) of i and the local correction as the wave (iv) of i have ended. If the assumption is correct, the asset will grow to the area of 40.40–45.00. In this scenario, critical stop loss level is 31.30.

Main scenario

Long positions will become relevant above the level of 31.30 with the targets at 40.40–45.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 31.30 will let the asset go down to the area of 26.75–24.60.