Technical analysis

Amazon Wave Analysis – 4 August, 2022

Amazon Wave Analysis – 4 August, 2022

• Amazon rising inside the ABC correction 4

• Likely to rise to resistance level 150.00

Amazon continues to rise inside the sharp upward correction 4, which previously broke the key resistance level 125.00, intersecting with the 38.2% Fibonacci correction of the downward impulse from March.

The breakout of the resistance level 125.00, accelerated the active minor impulse wave (c) of the ABC correction 4 from the middle of June.

Amazon can be expected to rise further toward the next round resistance level 150.00 (target for the completion of the active ABC correction 4).

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