Amazon stock continues in the sideways track above the support level 3114.40 despite breaching the support level of the ascending channel that it was moving within last month.
The moving averages are pressing the price further downwards as the 7-20-50 moving averages form a very strong resistance level above the …
The pair found support at 1.2060 as the moderate optimism returns to the market. This may lead to a local rebound, but the growth will be limited, as investors await tomorrow’s monetary policy decision by the ECB.
Technical side:
The price is located below the middle Bollinger band, above …
The overall trend is downward. Ascending patterns of the H4 and H2 levels are truncated. Awesome Oscillator shows bearish divergence, while Stochastic Oscillator signals overbought condition. A breakout of 1.7626 will result in the formation of a descending pattern, which completed the ascending truncated pattern of the H2 level. …
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