Growth is possible.

On the daily chart, the upward wave of the higher level C develops, within which the first wave (1) of C forms. Now, the third wave of the lower level 3 of (1) is forming, within which the wave v of 3 is developing. If the assumption is correct, the asset will grow to the area of 750.00–800.00. In this scenario, critical stop loss level is 622.90.

Main scenario

Long positions will become relevant above the level of 622.90 with the targets at 750.00–800.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 622.90 will let the price go down to the area of 540.00–490.00.