The current AMZN structure hints at the construction of a bullish ①-②-③-④-⑤ trend. This takes on an impulsive form.
A long-term primary correction ④ seems to be forming now which looks like a triple zigzag. As part of this zigzag, the first four waves (W)-(X)-(Y)-(X) have ended.
The zigzag correction B is currently developing as part of the final actionary wave (Z). It could soon end and then the impulse could decline to 2899.79. At that level, wave (Z) will be at 123.6% of wave (Y).
In the medium term, after the end of the wave (Z), a rise above the maximum of 3516.45 in the primary fifth wave is possible.
It is possible that the intermediate intervening wave (X), which is part of the primary correction, is not yet complete.
Here we assume that it will be more complex in its structure and will take the form of a double W-X-Y zigzag.
In the near future, the end of the minor intervening wave X is likely. Then the price could start to rise in the actionary wave Z to 3559.85. At that level, wave (X) will be at 123.6% of wave (Y).
In the medium term, we could expect a decline in the intermediate wave (Z) well below the low of 2886.58.
