The probability of decline remains.

On the daily chart, the downward correction as the fourth wave of the higher level 4 has ended and the fifth wave 5 is being formed, which includes the third wave of the lower level (3) of 5. At the moment, wave 3 of (3) has also appeared, the correction as wave 4 of (3) has completed and wave 5 of (3) is developing. If the assumption is correct, one may expect the growth of the price of the asset to 210.00–220.00. The level of 188.50 is critical and stop-loss for this scenario.

Main scenario

Long positions are relevant from the corrections above level of 188.50 with targets at 210.00–220.00. Implementation time: 7 days and more.

Alternative scenario

A breakdown and consolidation of the price below the level of 188.50 will allow the asset to continue its downward dynamics to the area of 177.50–163.60.