FX.co ★ Technical analysis of Amazon for February 9, 2022

It has been a while since we last looked at Amazon, but it has followed Livermore's Accumulation Cylinder to perfection. We can now add points 11 and 12 from Livermore's blueprint of what's going to happen. The next point is 13 and that should be close to the 38.2% corrective target near 2,347.

Resistance is seen near the present level at 3,228 which is expected to cap the upside for the next turn lower towards 2,347 and in the longer term even lower as point 14 still is missing.