Chart of the day

AMZN is reaching a strong resistance of 190. A break above this resistance is required for a continuation higher. A rejection here will lead us to a downside swing to an upside support of 150 again.

We need to see a break below 177 for the downside swing to happen. I see still this as an upside five waves finish so I expect a reversal swing down. An extension higher than 190 will open a new bullish cycle.

_{Look for the short trade entries with a stop loss above 196. Long trades you can take in the case of a confirmed price action break above 197.}