Bull Flag Target Matches the Fibonacci Target
In fact, Figure 1 shows that a potential Bull flag is forming (dotted black lines), and a breakout above the upper descending trendline targets approximately $136000. This level is exactly at the 100.00% extension of the green W-1, measured from the June 22 low at around $98K, and it represents a typical third-of-a-third wave target within a standard Fibonacci-based impulse pattern, as shown: gray W-iii of the green W-3.
Thus, the rally from the June 22 low should be the gray W-i, and a quick pullback for the gray W-ii might be your last chance to hop on the bull train to at least $136K. Still, there should be plenty of strength left from that level, as we would still need the gray W-iv, v, and the green W-4, 5 to ultimately and ideally reach $174K, assuming the typical Fibonacci-based path is followed.
This still aligns well with our ideal target range of $ 164,000 to $216,000 to be reached by the end of this year.