The price is in a correction and may grow.

On the daily chart, the third wave of the higher level (3) develops, within which the fifth wave of the lower level 5 of (3) forms. Now, the wave iii of 5 has ended, and a correction is developing as the wave iv of 5. If the assumption is correct, the asset will grow to the area of 160.00–180.00. In this scenario, critical stop loss level is 125.47.

Main scenario

Long positions will become relevant above the level of 125.47 with the targets at 160.00–180.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 125.47 will let the asset go down to the area of 101.30–77.95.