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Amazon Wave Analysis – 27 November, 2019

  • Amazon approaching resistance level 1810.00
  • Likely to rise to 1850.00

Amazon has been rising in the last trading sessions inside the medium-term impulse wave (3) – which started earlier from the key support level 1700.00 (which has been reversing the price from June).

The price is currently trading close to the resistance level 1810.00 (top of the previous impulse wave (1)).

If the Amazon breaks above the resistance level 1810.00 – Amazon can then rise toward the next key resistance level 1850.00 (top of the wave (B) from September).

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