Growth is possible.

On the daily chart, the fifth wave of the higher level (5) of А forms, within which the first wave of the lower level 1 of (5) ended. Now, a downward correction has formed as the second wave 2 of (5), and the third wave 3 of (5) is developing, within which the first wave of the lower level i of 3 is forming. If the assumption is correct, the asset will grow to the area of 230.00–266.00. In this scenario, critical stop loss level is 172.50.

Main scenario

Long positions will become relevant above the level of 172.50 with the targets at 230.00–266.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 172.50 will let the asset go down to the area of 148.50–121.07.