AMZN Has Primary Correction ④ Ended?


AMZN appears to form an bullish impulse that includes the formation of a long fourth wave.

The primary corrective wave ④ takes the form of an intermediate triple combination. The second middle wave (X), which took the form of a double zigzag, ended.

In the medium term, the final mean wave (Z) is likely to appear as shown in the diagram. This can be a complex zigzag structure WXY.

The wave (Z) could end near 2888.74, where it will be at 161.8% of wave (Y).


However the formation of the main correction ④ could have been completed earlier. In this case, the last fifth wave may form now.

It is possible that the primary wave ⑤ has the internal structure of a final diagonal. It seems that the market has just completed the development of the medium wave (4), so in the near future it could rise in the final medium wave (5) to 4066.64.

At that level, primary wave ⑤ will be at 61.8% of primary impulse wave.

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