Growth is possible.

On the daily chart, the fifth wave of the higher level 5 develops, within which the wave (3) of 5 forms. Now, the fifth wave 5 of (3) is forming, the wave i of 5 has developed, a correction has ended as the wave ii of 5, and the wave iii of 5 is forming. If the assumption is correct, the asset price will grow to the area of 220.00–240.00. In this scenario, critical stop loss level is 174.10.

Main scenario

Long positions will become relevant above the level of 174.10 with the targets at 220.00–240.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 174.10 will let the asset go down to the area of 135.35–120.27.