Growth is possible.

On the daily chart, the third wave of the higher level (3) ended, a downward correction formed as the fourth wave (4), and the development of the fifth wave (5) started, within which the entry first wave of the lower level 1 of (5) forms. Now, the wave iii of 1 is forming, within which the wave (v) of iii is developing. If the assumption is correct, the asset will grow to the area of 142.00–150.50. In this scenario, critical stop loss level is 126.15.

Main scenario

Long positions will become relevant above the level of 126.15 with the targets at 142.00–150.50. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 126.15 will let the asset go down to the area of 116.30–110.95.