Amazon Wave Analysis – 11 May, 2020

• Amazon reversed from support area

• Likely to rise to 2470.00

Amazon recently reversed up sharply from the support area lying between the support level 2270.00 (low of the previous correction (A)) and the 38.2% Fibonacci correction of the previous upward impulse from April.

The upward reversal from this support area started the active impulse wave ③.

Amazon is expected to rise further toward the next resistance level 2470.00 (top of the previous waves (B) and ①).