The price may grow.

On the daily chart, the third wave of the higher level 3 forms, within which the wave (5) of 3 develops. Now, the third wave of the lower level 3 of (5) has formed, the correctional wave 4 of (5) has ended, and the wave 5 of (5) is developing, within which the wave i of 5 has formed, and a local correction has ended as the wave ii of 5. If the assumption is correct, the asset will grow within the wave iii of 5 to the area of 315.00–330.00. In this scenario, critical stop loss level is 277.00.

Main scenario

Long positions will become relevant above the level of 277.00 with the targets at 315.00–330.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 277.00 will let the asset go down to the area of 266.35–258.35.