Growth is possible.

On the daily chart, the fifth wave of the higher level 5 forms, within which the wave (3) of 5 develops. Now, the fifth wave 5 of (3) has started, within which the wave i of 5 has ended, and a correction is developing as the wave ii of 5. If the assumption is correct, the asset will grow to the area of 220.00–240.00. In this scenario, critical stop loss level is 157.65.

Main scenario

Long positions will become relevant above the level of 157.65 with the targets at 220.00–240.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 157.65 will let the asset go down to the area of 135.35–120.27.