Growth is possible.

On the daily chart, the wave C of the higher level develops, within which the third wave (3) of C has formed, and a correction has ended as the fourth wave (4) of C. Now, the fifth wave (5) of C is developing, within which the wave 5 of (5) is forming. If the assumption is correct, the asset will grow to the area of 220.00–230.00. In this scenario, critical stop loss level is 185.40.

Main scenario

Long positions will become relevant above the level of 185.40 with the targets at 220.00–230.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 185.40 will let the asset go down to the area of 143.85–118.06.