Growth is possible.

On the daily chart, the fifth wave of the higher level 5 forms, within which the third wave (3) of 5 develops. Now, the fifth wave of the lower level 5 of (3) is forming, within which the wave iii of 5 has ended, and a correction has started as the wave iv of 5. If the assumption is correct, the asset will grow to the area of 260.00–275.00. In this scenario, critical stop loss level is 219.65.

Main scenario

Long positions will become relevant above the level of 219.65 with the targets at 260.00–275.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 219.65 will let the asset go down to the area of 198.60–178.50.