Apple -> Short Term Reversal

Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .

On the weekly timeframe you can see that Apple stock is currently retesting a quite obvious previous weekly downtrend resistance line exactly at the $165 area.
Also just recently Apple stock created a weekly inverted head and shoulders so I definitely do expect the market to reject this downtrendline to retest the neckline of the inverted head and shoulders at the $155 area and then from there create more continuation towards the upside.

On the daily timeframe you can see that market structure is still massively bullish so I am now just waiting for Apple to show me some more bearish rejection at the current levels and then there is a high chance that we will see a short term rejection away from the downtrend resistance trendline.

Thank you for watching and I will see you tomorrow!

You can also check out my previous analysis of this asset:
https://www.tradingview.com/chart/AAPL/jYYUba8M-Apple-The-Bulls-Are-Strong/