Growth is possible.

On the daily chart, a downward correction ended as the fourth wave of the higher level (4) of A, and the fifth wave (5) of А develops, within which the wave 1 of (5) forms. Now, the fifth wave v of 1 is forming, within which the third wave of the lower level (iii) of v is developing. If the assumption is correct, the asset will grow to the area of 237.55–258.55. In this scenario, critical stop loss level is 202.00.

Main scenario

Long positions will become relevant above the level of 202.00 with the targets at 237.55–258.55. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 202.00 will let the asset go down to the area of 182.60–171.20.