Growth is possible.

On the weekly chart, the third wave of the higher level (3) of 5 develops, within which the wave 5 of (3) forms. Now, the third wave of the lower level iii of 5 has ended, and a correction has formed as the fourth wave iv of 5. If the assumption is correct, the asset will grow within the wave v of 5 to the area of 255.00–273.70. In this scenario, critical stop loss level is 203.00.

Main scenario

Long positions will become relevant above the level of 203.00 with the targets at 255.00–273.70. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 203.00 will let the asset go down to the area of 157.80–134.27.