The price may grow.

On the daily chart, the downward wave of the higher level B ended, and the upward wave C develops, within which the entry first wave 1 of C develops. Now, the third wave of the lower level iii of 1 is forming, and a correction is developing as the wave (iv) of iii, and the wave (iii) of ii has formed. If the assumption is correct, the asset will grow to the area of 23.20–24.50. In this scenario, critical stop loss level is 19.60.

Main scenario

Long positions will become relevant above the level of 19.860 with the targets at 23.20–24.50. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 19.60 will let the asset go down to the area of 15.86–13.50.