FX.co ★ #AMZN M5: Bearish Flag

The Bearish Flag pattern has been formed on #AMZN at M5. The lower boundary of the pattern is located at 238.08/238.92 while the upper boundary lies at 239.08/239.92. The projection of the flagpole is 474 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 238.08 is broken, the price will move further downwards.