Growth is possible.

On the daily chart, a downward correction of the higher level ended as the wave B, and the upward wave C started, within which the first wave of the lower level 1 of (1) of C forms. Now, the wave i of 1 has formed, a local correction has ended as the wave ii of 1, and the wave iii of 1 is developing. If the assumption is correct, the asset will grow to the area of 71.70–77.00. In this scenario, critical stop loss level is 55.55.

Main scenario

Long positions will become relevant above the level of 55.55 with the targets at 71.70–77.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 55.55 will let the asset go down to the area of 50.08–45.00.