Amazon Wave Analysis – 30 June, 2020

• Amazon reversed from support level 2670.00

• Likely to rise to 2800.00

Amazon recently reversed up sharply with the daily candlesticks reversal pattern Hammer from the pivotal support level 2670.00 (former resistance from the start of June – which stopped the previous impulse wave 3).

The upward reversal from the support level 2670.00 started the active medium-term impulse sequence (3). Amazon is likely to rise further toward the next resistance level 2800.00 (which stopped the previous impulse wave (1)).