Growth is possible.

On the daily chart, a downward correction of the higher level ended as the wave B, and the wave C started, within which the first wave (1) of C forms. Now, the third wave of the lower level 3 of (1) of C is developing, within which the wave v of 3 is forming. If the assumption is correct, the asset will grow to the area of 95.50–102.50. In this scenario, critical stop loss level is 82.70.

Main scenario

Long positions will become relevant above the level of 82.70 with the targets at 95.50–102.50. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 82.70 will let the asset go down to the area of 76.00–67.35.