Apple is testing short-term key support at 141.67 and a clear break below here will confirm that a long-term top is in place at 157.26. A larger corrective decline should be expected in the weeks and months ahead. A break below 141.67 will call for a correction towards at least the 50% corrective target at 76.77, but a more likely target is the 61.8% corrective target, which is seen near 58.66.
In the short term, we see resistance near 150.27, but Apple could still make a new all-time high as long as short-term key support is able to act as a floor. The odds for a new all-time high are low but it is still a possibility.The material has been provided by InstaForex Company - www.instaforex.com