Growth is possible.

On the daily chart, the fifth wave of the higher level (5) develops, within which the wave 1 of (5) ended, a downward correction formed as the second wave 2 of (5), and the third wave 3 of (5) forms. Now, the first wave of the lower level i of 3 has formed, a correction has formed as the second wave ii of 3, and the third wave iii of 3 is developing. If the assumption is correct, the asset will grow to the area of 260.00– 280.00. In this scenario, critical stop loss level is 203.62.

Main scenario

Long positions will become relevant above the level of 203.62 with the targets at 260.00– 280.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 203.62 will let the asset go down to the area of 191.80–181.45.