Growth is possible.

On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the fifth wave (5) develops, within which the wave 3 of (5) forms. Now, the third wave of the lower level iii of 3 has ended, the local correction iv of 3 has formed, and the wave v of 3 has started. If the assumption is correct, the asset will grow to the area of 300.00–310.00. In this scenario, critical stop loss level is 266.55.

Main scenario

Long positions will become relevant above the level of 266.55 with the targets at 300.00–310.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 266.55 will let the asset go down to the area of 259.50–251.85.