AMZN trend broken; expect bounce from ~$239 support toward ~$258 resistance.

Next up into the chart of Amazon, guys. Now, first off with Amazon, I want to go over this with you with a uh overview of our inclining parallel channel. Guys, if you ever get the opportunity to isolate these on your charts, I highly recommend you do it.

They give you so much information where price can break down from current trend, where we can move up to the next level, get more bullish, and then obviously a cap to that bullishness, right?

So looking at this inclining parallel all the way back here since 2023 on the charts zooming into the 50% area you can get a lot more information here too. You can see initially we came down much like the gold chart and the silver chart.

We didn't confirm a break elevated right back up but then we couldn't extend far enough guys right if we extended far enough away then the next attempt could be support level. We didn't accomplish that. instead broke through, put in another retrace after confirming a breakdown and then boom, we've got rejected.

Nice push down further on the charts as you see Amazon coming down closing near the lows of the day. So that brings up an important level of potential support on the horizon for AMZN derived from this inclining trend line from March 27th of this year connected over to the pivot low in July of this year.

That value comes in roughly right around $239. Right on top of this uh high-end wick on July 30th. We should see near-term bounce. One that could propel Amazon right back up to the 50% area. This parallel at $25822.

Nice push down further on the charts as you see Amazon coming down closing near the lows of the day. So that brings up an important level of potential support on the horizon for AMZN derived from this inclining trend line from March 27th of this year connected over to the pivot low in July of this year.

That value comes in roughly right around $239. Right on top of this uh high-end wick on July 30th. We should see near-term bounce. One that could propel Amazon right back up to the 50% area. This parallel at $25822.