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) started, within which the entry first wave of the lower level 1 of (5) develops. Now, the wave v of 1 is developing, within which a local correction has formed as the wave (iv) of v. If the assumption is correct, the price will grow to the area of 160.00–170.00. In this scenario, critical stop loss level is 130.95.

Main scenario

Long positions will become relevant above the level of 130.95 with the targets at 160.00–170.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 130.95 will let the asset go down to the area of 114.95–108.75.