Growth is possible.

On the daily chart, the third wave of the higher level (3) forms, within which a correction ended as the fourth wave 4 of (3), and the fifth wave 5 of (3) develops. Now, the third wave of the lower level the wave iii of 5 has formed, a correction has ended as the fourth wave iv of 5, and the fifth wave v of 5 is forming, within which the wave (iii) of v is developing. If the assumption is correct, the asset will grow to the area of 285.00–300.00. In this scenario, critical stop loss level is 255.40.

Main scenario

Long positions will become relevant above the level of 255.40 with the targets at 285.00–300.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 255.40 will let the asset go down to the area of 221.60–204.10.