Growth is possible.

On the daily chart, a downward correction ended as the second wave of the higher level (2), within which the wave C of (2) formed, and the third wave (3) started. Now, the entry first wave of the lower level i of 1 of (3) is developing, within which the wave (i) of i of 1 of (3) has ended, a correction has formed as the wave (ii) of i of 1 of (3), and the wave (iii) of i of 1 of (3) is developing. If the assumption is correct, the asset will grow to the area of 37.25–51.10. In this scenario, critical stop loss level is 21.25.

Main scenario

Long positions will become relevant above the level of 21.25 with the targets at 37.25–51.10. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 21.25 will let the asset go down to the area of 15.00–11.00.