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06.05.202207:35 Forex Analysis & Reviews: Technical analysis for Amazon for May 6, 2022

Exchange Rates 06.05.2022 analysis

Amazon continues to follow Livermore's Accumulation model 100%. After breaking below support at 2,897 it was only a question of time before the 2,351 target would be tested and that happened yesterday. This marks point 13 in Livermore's model. We will like to see a temporary consolidation in the days/weeks ahead before the next decline towards point 14 and maybe even 15. Point 14 is expected near 1,911, while point 15 is seen near 1,470. So, more downside pressure remains expected after a period of consolidation near 2,351.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Torben Melsted,
Analytical expert of InstaSpot
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