Growth is possible.

On the daily chart, a downward correction ended as the fourth wave of the higher level 4, and the fifth wave 5 develops, within which the third wave of the lower level (3) of 5 forms. Now, the wave 3 of (3) has formed, a local correction has ended as the wave 4 of (3), and the wave 5 of (5) has started. If the assumption is correct, the asset will grow to the area of 202.20–220.00. In this scenario, critical stop loss level is 178.53.

Main scenario

Long positions will become relevant above the level of 178.53 with the targets at 202.20–220.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 178.53 will let the asset go down to the area of 159.20–135.62.