Growth is possible.

On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the fifth wave (5) develops, within which the third wave of the lower level 3 of (5) forms. Now, the wave iii of 3 is developing, within which a local correction has formed as the wave (ii) of iii, and the formation of the wave (iii) of iii has started. If the assumption is correct, the asset will grow to the area of 255.00–265.00. In this scenario, critical stop loss level is 228.15.

Main scenario

Long positions will become relevant above the level of 228.15 with the targets at 255.00–265.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 228.15 will let the asset go down to the area of 215.20–201.80.