FX.co ★ Technical analysis of Amazon for March 25, 2022

Amazon continues to follow Livermore's accumulation cylinder. We are currently completing number 12 on Livermore's print. Now, the really big sell-off should be expected in the weeks and months ahead. The minimum target is seen at 2,347. However, we think that a decline to minimum the 50% corrective target at 1,906 should be expected.

Resistance is now seen at 3,327 point number 12 could still reach higher towards resistance at 3,530 before capitulating and rolling over to the downside.