• Amazon rising inside impulse wave (3)
• Likely to test resistance level 3470.00
Amazon continues to rise in the medium-term impulse wave (3), which started earlier from the key support level 3315.00 which has been reversing the price form October), intersecting with the lower daily Bollinger Band.
The upward reversal from the support level 3315.00 created the daily Morning Star – highlighting the strength of this price level.
Given the strongly daily uptrend – Amazon can be expected to rise further toward the next resistance level 3470.00.
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