Growth is possible.

On the daily chart, the upward wave of the higher level C forms, within which the entry first wave 1 of (1) of C formed, a correction ended as the second wave 2 of (1) of C, and the third the wave 3 of (1) of C has started. Now, the first wave of the lower level i of 3 is developing, within which the wave (iii) of i is forming. If the assumption is correct, the asset will grow to the area of 110.15–123.60. In this scenario, critical stop loss level is 91.00.

Main scenario

Long positions will become relevant above the level of 91.00 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 91.00 will let the price go down to the area of 79.35–66.00.