Growth is possible.

On the daily chart, the third wave of the higher level (3) develops, within which the wave 5 of (3) forms. Now, the third wave of the lower level iii of 5 is developing, within which the wave (iii) of v is formng. If the assumption is correct, the asset will grow to the area of 190.00–200.00. In this scenario, critical stop loss level is 150.60.

Main scenario

Long positions will become relevant above the level of 150.60 with the targets at 190.00–200.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 150.60 will let the asset go down to the area of 129.85–119.43.