– Apple reversed from support level 225.00
– Likely to rise to resistance level 232.50
Apple recently reversed up from the key support level 225.00 (low of the previous wave (a)) intersecting with the 20-day moving average and the 50% Fibonacci correction of the upward impulse i from last month.
The upward reversal from the support level 225.00 stopped the c-wave of the previous ABC correction ii.
Given the clear daily uptrend, Apple can be expected to rise further to the next resistance level 232.50 (which stopped the earlier waves 1, I and b).
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