The Fibonacci Extension indicator plots the most common mathematical relationships, producing a predictive technical indicator [see How To Swing Trade ETFs].

Reversely, on a new uptrend, you would run the high to low extensions for possible resistance that can act as profit targets.

There are also countless Fibonacci tools from spirals, retracements, Fib time zones, Fib speed resistance to extension. In this article, I will explain how to correctly draw a Fibonacci sequence and ...

Of course, those price targets will come down slightly if the current retracement low changes as the Fibonacci extension tool will need to be redrawn.

$4,000: Psychological resistance aligning with the next Fibonacci extension target. $4,400 (0.618 Fibonacci extension): Long-term resistance and potential wave extension target.