Growth is possible.

On the daily chart, the third wave of the higher level (3) forms, within which a downward correction ended as the fourth wave 4 of (3), and the fifth wave 5 of (3) develops. Now, the third wave of the lower level the wave iii of 5 is developing, within which the wave (iii) of iii has ended. If the assumption is correct, after the end of a local correction as the wave (iv) of iii, the asset will grow to the area of 235.00–250.00. In this scenario, critical stop loss level is 206.60.

Main scenario

Long positions will become relevant above the level of 206.60 with the targets at 235.00–250.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 206.60 will let the asset go down to the area of 189.75–177.20.