Growth is possible.

On the daily chart, a downward correction of the higher level ended as the wave B, and the wave C forms, within which the entry first wave 1 of (1) of C formed, and a correction developed the second wave 2 of (1) of C. Now, the development of the third wave 3 of (1) has started, within which the first wave of the lower level i of 3 is forming. If the assumption is correct, the asset will grow to the area of 123.60–135.00. In this scenario, critical stop loss level is 86.40.

Main scenario

Long positions will become relevant above the level of 84.60 with the targets at 123.60–135.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 84.60 will let the price go down to the area of 66.00–50.50.