Growth is possible.

On the daily chart, the third wave of the higher level (3) forms, within which a downward 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 iii of 5 is developing, within which the wave (iii) of iii is forming. If the assumption is correct, the asset will grow to the area of 235.00–250.00. In this scenario, critical stop loss level is 216.10.

Main scenario

Long positions will become relevant above the level of 216.10 with the targets at 235.00–250.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 216.10 will let the asset go down to the area of 189.75–177.20.