• Amazon reversed from support zone
• Likely to rise to resistance level 3765.00
Amazon recently reversed up from the support zone lying between the support level 3540.00 (former multi-month resistance level from September and March) and the 38.2% Fibonacci correction of the upward impulse 1 from May.
The upward reversal from this support zone stopped the previous short-term corrective wave 2.
Given the clear daily uptrend – Amazon can be expected to rise further toward the next resistance level 3765.00 (top of wave 1 from the start of July).