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, a correction has ended as the fourth wave of the lower level iv of 3, and the fifth wave v of 3 is developing, within which the wave (iii) of v 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 268.03.

Main scenario

Long positions will become relevant above the level of 268.03 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 268.03 will let the asset go down to the area of 251.85–242.54.