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, within which the wave (3) of 5 forms. Now, the fifth wave of the lower level 5 of (3) is developing, within which the wave v of 5 is forming. If the assumption is correct, the asset will grow to the levels of 450.00–480.80. In this scenario, critical stop loss level is 395.80.

Main scenario

Long positions will become relevant above the level of 395.80 with the targets at 450.00–480.80. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 395.80 will let the asset go down to the area of 364.00–346.40.