Growth is possible.

On the daily chart, the downward wave of the higher level B ended, within which the wave (C) of B formed, and the upward wave C started. Now, the entry first wave of the lower level i of 1 is developing, within which the wave (i) of i has formed, a local correction has ended as the wave (ii) of i, and the wave (iii) of i is forming. If the assumption is correct, the asset will grow to the area of 18.00–20.00. In this scenario, critical stop loss level is 13.80.

Main scenario

Long positions will become relevant above the level of 13.80 with the targets at 18.00–20.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 13.80 will let the asset go down to the area of 12.00–10.00.