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Amazon analysis 31.05.2019

31.05.2019

Market Review

Amazon is back on the downside after stabilizing in 1890.43 support.

The price fluctuates below the moving averages 7-7 and 50 which press the price to drop and continue to decline and test the next support 1765.47.

Stochastic is out of oversold areas but is moving close to it and therefore could return to the movement within this area and the price drops to support levels 1756.27.00.

The expected movement between the support 1765.27 and the resistance 2050.80.

General direction of the movement: bearish.

Author: admin
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