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AMZN Minor Wave 5 to Open New Lows!

AMZN Minor Wave 5 to Open New Lows!

Chart of AMZN

The share price of AMZN is falling within the bearish correction b. This wave could take the form of a zigzag Ⓐ-Ⓑ-Ⓒ of the primary degree.

At the moment, the market is in the final intermediate wave (5) of the leading diagonal Ⓐ. As part of wave (5), a long correction 4 could come to an end, taking the form of a minute double zigzag.

In the near future, prices could continue of depreciat within wave 5 to the level of 68.44. At the specified mark, waves 5 and 3 will be equal to each other.

Chart of AMZN

Let’s consider the second variant of the markup, where the leading diagonal Ⓐ can be fully completed, and the price moves in a horizontal correction Ⓑ.

It is possible that the correction wave Ⓑ will take the form of an intermediate double three (W)-(X)-(Y). The sub-waves (W) and (X) are already fully completed.

In the next coming trading days, an upward movement is expected in the final zigzag wave (Y). Also  in the minor wave C to the maximum of 146.85, marked by the wave (W).

The post AMZN Minor Wave 5 to Open New Lows! appeared first on Orbex Forex Trading Blog.

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