FX.co ★ Technical analysis of Amazon for March 3, 2022

Amazon is following the same pattern as Apple as we have seen the peak of Livermore's Accumulation Cylinder at 3,773 in July 2021 and the pressure is now lower for the weeks/months to come. The ideal downside target is seen at 1,906 and maybe even closer to the 61.8% corrective target near 1,495.

Short-term we will be looking for a break below minor support at 2,792 as the next impulsive decline towards the 1,906 target.