Growth is possible.

On the daily chart, a downward correction of the higher level ended as the wave B, and the wave C forms, within which the entry first wave 1 of (1) of C formed, and a downward correction ended as the second wave 2 of (1) of C. Now, the third wave 3 of (1) has started, within which the first wave of the lower level (i) of i of 3 has formed. If the assumption is correct, after the correction (ii) of i of 3, the asset will grow to the area of 110.15–123.60. In this scenario, critical stop loss level is 86.40.

Main scenario

Long positions will become relevant above the level of 86.40 with the targets at 110.15–123.60. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 86.40 will let the price go down to the area of 66.00–50.50.