Amazon Wave Analysis 11 September 2024

– Amazon broke resistance area

– Likely to rise to resistance level 190.00

Amazon recently broke the resistance area located between the resistance level 182.30 (top of wave (1) from the middle of August) and the 61.8% Fibonacci correction of the downward impulse from July.

The breakout of this resistance area accelerated the active medium-term impulse wave (3).

Given the clear daily uptrend, Amazon can be expected to rise further to the next resistance level 190.00 (which stopped waves 4 and (B) at the end of July).