Growth is possible.

On the daily chart, the wave C of the higher level develops, within which the third wave (3) of C forms. Now, the third wave of the lower level 3 of (3) is developing. If the assumption is correct, the asset will grow to the area of 195.00–210.00. In this scenario, critical stop loss level is 170.40.

Main scenario

Long positions will become relevant above the level of 170.40 with the targets at 195.00–210.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 170.40 will let the asset go down to the area of 154.70–143.70.