Technical analysis of Apple for September 16, 2021


On September 1 we showed the almost 100 year old Accumulation Cylinder call for a top in Apple and this possible top seems to be playing out just perfect. We still need a a break below support at 141.67 to confirm that a long-term top is in place and a larger correction is unfolding towards support in the 59 - 77 area. Ideal we will see a correction towards the 61.8% corrective target near 59.00.

That said, we can't call the top before a break below support at 141.67 has been seen. Until that break has been seen, we can't exclude one more new all-time high, but the odds seems very low for this outcome.

The material has been provided by InstaForex Company -

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