How Far Will Apple’s Santa Claus Rally Go?

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The market continues to move inside a very long green channel. Moreover, the green channel is located within the bounds of the yellow channel and more accurately describes the behavior of the price.

It is possible that in the near future we will see a continuation of price growth in the direction of resistance of 291.9, which is on the upper green wall. In favor of this scenario, the fact that the price recently pushed off from the red line of the moving average, after which the bulls flew up with a vengeance.

In the event of a break of the level of 291.9, a path may open for the market in the direction of 319.79, which is on the upper yellow bound.

However, if in the near future the bears will be able to bring the price below the moving average, breaking through the level of 265.24, the market may be open to the support level of 241.52, which is located on the lower green bound.

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