Growth is possible.

On the daily chart, the wave C of the higher level develops, within which the third wave (3) of C formed, and a correction ended as the fourth wave (4) of C. Now, the fifth wave (5) of C is developing, within which the wave 3 of (5) is forming. If the assumption is correct, the asset will grow to the area of 210.00–230.00. In this scenario, critical stop loss level is 168.60.

Main scenario

Long positions will become relevant above the level of 168.60 with the targets at 210.00–230.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 168.60 will let the asset go down to the area of 143.85–118.06.