The price is in a correction and may grow.

On the daily chart, the third wave of the higher level 3 ended, and a correction started as the fourth wave 4. Now, the wave (А) of 4 is forming, within which the first wave of the lower level 1 of (А) has ended, and a correction is forming as the second wave 2 of (A). If the assumption is correct, the asset will grow to the area of 275.90–281.95. In this scenario, critical stop loss level is 243.35.

Main scenario

Long positions will become relevant above the level of 243.35 with the targets at 275.90–281.95. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 243.35 will let the asset go down to the area of 230.00–215.00.