On the daily chart, a downward correction of the higher level develops as the wave B, within which the wave (А) of B ended, and an upward correction forms as the wave (B) of B. Now, the wave C of (B) is developing, within which the third wave of the lower level iii of C has ended, a local correction has formed as the fourth wave iv of C, and the fifth wave v of C has started. If the assumption is correct, the price the asset will grow to the area of 188.00–195.00. In this scenario, critical stop loss level is 170.40.
Main scenario
Long positions will become relevant above the level of 170.40 with the targets at 188.00–195.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 170.40 will let the asset go down to the area of 154.70–143.70.
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