Market Snapshots

Amazon Wave Analysis – 28 May, 2020

Amazon Wave Analysis – 28 May, 2020

• Amazon reversed from support area

• Likely to rise to 2525.00

Amazon rising steadily after the yesterday’s sharp upward reversal from the support area lying between the support level 2340.00 (low of wave B) and the lower daily Bollinger band.

The upward reversal from the support level 2340.00 created the daily strong candlesticks reversal pattern Hammer Doji. Corn is likely to rise further toward the next resistance level 2525.00 (top of the previous impulse wave (1)).

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