Apple Wave Analysis 22 December 2023

– Apple reversed from resistance level 197.45

– Likely to fall to support level 191.30

Apple recently reversed down from the strong resistance level 197.45 (which stopped the sharp uptrend in July) intersecting with the upper daily Bollinger Band.

The downward reversal from the resistance level 197.45 started the active short-term corrective wave ii.

Given the strength of the resistance level 197.45, Apple can be expected to fall further to the next support level 191.30 (target price for the completion of the active wave ii).