Apple – Upward move could be paused
Apple has touched its resistance level on a 4 hour time frame yesterday. However, it is important to know that this resistance level is not a fresh level as the price has already touched this resistance zone before. The price is also piercing the Bollinger band at this level and it is trading away from its 20 day moving average. The piercing of the Bollinger band does have a significant importance at an important level of support/resistance and it could reverse the trend or push the price back towards its mean.
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