Today we will consider the situation on AAPL shares. Apparently, the market is forming a correction pattern – a cycle zigzag a-b-c.
Correction b is being built now. It has the form of a double zigzag Ⓦ-Ⓧ-Ⓨ of the primary degree. It is assumed that the formation of the horizontal intervening wave Ⓧ, which took the form of a double three, has come to an end.
In the near future, the development of the actionary wave Ⓨ is expected, which may take the standard form of a zigzag (A)-(B)-(C). The first impulse leg may end near the minimum of 143.59.
Alternatively, it is assumed that the formation of a cycle correction b has already been fully completed, and since the beginning of this year, the market has been moving up within the cycle wave c.
Judging by the internal structure, wave c may take the form of a primary impulse ①-②-③-④-⑤. The first two parts of this pattern are fully completed, and now the price is growing in the primary impulse ③.
Most likely, the bulls will send the market to the 200.47 mark. At that level, impulse ③ will be at 161.8% of wave ①.
The post AAPL: The Double Three Is Complete. We Are Waiting For A Fall In The New Trend. appeared first on Orbex Forex Trading Blog.
