Categories: Technical analysis

Amazon Wave Analysis – 28 December, 2021

• 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.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: amazon

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