AMZN Rejection Signals a Major Top: Bearish FVG Now Targeting 220–215
$Amazon.com(AMZN)$ has been playing out exactly as projected.
We nailed the downside continuation after the top — and then caught the bullish reversal right at our target support zone, setting up this corrective rally.
AMZN closed right at the MomentumThreshold (MT) of the ralky from the Oct. 17low at 235, while also breaking back below theprior all-time high with momentum. That combination strongly favors that AMZN has already topped, completing a bearish diagonal and beginning a higher-degree correction.
The newly formed bearish Daily FVG at238,73-243,75 should now act as over headresistance, guiding price lower toward the O/Btrendline and Monthly FvG support at 220-215.
The 258,60 peak is expected to stand as the major high for the months ahead with aweekly close below 225.40 supporting that.
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