Market Snapshots

Amazon Wave Analysis – 4 October, 2019

Amazon Wave Analysis – 4 October, 2019
  • Amazon reversed from support area
  • Likely to rise to 1700.00

Amazon previously reversed up from the support area located between the support level 1700.00, lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse from December.

The upward reversal from this support area stopped the previous short-term impulse wave 3.

Amazon is expected to rise further and retest the next resistance level 1700.00 (former strong support from August).

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