Amazon Wave Analysis – 27 July, 2020
July 27, 2020 @ 17:37 +03:00
o Amazon reversed from key support level 2920.00
o Likely to rise to 3225.00
Amazon recently reversed up from the key support level 2920.00 (which stopped the (a)-wave of the active ABC retracement (iv) at the start of July).
The support zone near the support level 2920.00 was strengthened by the 61.80% Fibonacci retracement of the previous upward impulse (v) from June.
Amazon is likely to rise further toward the next resistance level 3225.00 (top of the previous minor correction (b)).