Wave 5 Long-Term Target: Fibonacci Projection Indicates 28,867

Wave 5 Long-Term Target: Fibonacci Projection Indicates 28,867

Wave 1: 15,214 to 18,893

Wave 3: 16,833 to 26,290

Wave 4 Complete: 22,022 (Correction Phase Ended)

Calculation:

Wave 1-3 Range: 26,290 - 15,214 = 11,076

61.8% of Wave 1-3: 11,076 × 0.618 = 6,844.97

Wave 5 Target: 22,022 + 6,844.97 = 28,867

Conclusion:

Wave 4 has completed, confirming a long-term bullish outlook. If Wave 5 follows the 61.8% Fibonacci extension rule, its estimated target is 28,867. This projection helps us to set long-term price targets and confirmations. You can view my previous analysis of wave 4 published on 20 FEB.