AMZN Triple Zigzag To Complete Correction ④

AMZN shares suggest the development of a bullish impulse, which includes the formation of a deep fourth wave.

The primary correction wave ④, apparently, takes the form of an intermediate triple combination. Perhaps, at the level of 3772.99, the development of the second intervening wave (X), which took the form of a double zigzag, was completed.

In the near future, the continuation of the final intermediate wave (Z) is likely. It has a complex zigzag structure W-X-Y-X-Z.

The end of wave (Z) is likely to reach the level of 2870.58, where it will be at 161.8% of wave (Y). After that, the growth in the primary fifth wave can update the maximum of 3772.99.

AMZN

An alternative scenario shows that primary correction ④ could have already ended. Now the primary fifth wave is in the process of development. It may take the form of an ending diagonal (1)-(2)-(3)-(4)-(5) of the intermediate degree.

Correction wave (4) in the form of a minor double zigzag W-X-Y has come to an end.

At the time of writing, it is unknown what correction form wave (5) will take, however, it could rise in this wave to the level of 4068.83.

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“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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