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Friday, April 15, 2011

Apple breaks trend line support

Apple has entered a corrective wave as I suspected before here not long back:

We take a look again at the charts below:

We see that 2 was a simple ABC zig-zag. Expect this 4th wave to be a complex corrective wave.

Looking at the short term chart below:

The very important sky blue trend line support was  broken today . But I dont think its going down fast just now. It has got a cluster of supports shown by the dashed green lines the last of which comes at around 315. If that breaks , the the move down is going to be fast . The next important trend line support is shown by the orange line.


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