- Price moving in a narrow range as shown in 30 Minutes time frame.
- 4 Hour chart shows the small range within a Larger Ascending channel. If the support line of the channel is held then price is likely to remain sideways to bullish.
- Bears tried and failed 3 times to close below 50 Day SMA. If bears manage to close below this line then the channel support line will be tested.
- AMAZON.com Descending triangle and Bearish engulfing
March 17, 2018
- Amazon Hourly Descending triangle has resolved in favour of bears.
- Now day must stay below 1578 for bigger correction to follow.
- If day closes below 1578 it will add more strength for the Bearish engulfing in Daily time frame.
- AMAZON Intraday update