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 development of the fifth wave (5) started. Now, the entry first wave of the lower level 1 of (5) is developing, within which the wave iii of 1 has ended, a local correction has formed as the wave (iv) of iii, and the wave (v) of iii is developing. If the assumption is correct, the asset will grow to the area of 133.45–142.00. In this scenario, critical stop loss level is 115.85.

Main scenario

Long positions will become relevant above the level of 115.85 with the targets at 133.45–142.09. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 115.85 will let the asset go down to the area of 108.60–102.50.