16.05.202307:48 Forex Analysis & Reviews: Technical analysis Apple for May 16, 2023

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We have long been tracking Apple, anticipating the potential long-term peak at 182.94. All earmarks to Livermore's Accumulation Cylinder have been followed and the possibility of extensive downside pressure remains high, as long as resistance at 176.15 is able to cap the upside. A break above the resistance at 176.15 will ease the downside pressure and call for a new test of the all-time high at 182.94 and possibly a temporary break above, but it will likely be short-lived.

The next downside target to look for as long as resistance at 176.15 is able to cap the upside is seen at 91.50 and possibly even lower to 70.

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