Apple Inc. (AAPL) is likely to hold under $180 for a while as it consolidates. Price action suggests that we could be in for more consolidation in the weeks to go.AAPL Weekly Chart(click to enlarge)Engulfing Candle:- The weekly chart shows that price made a new high in 2018 when it cracked $180. However, the $180 resistance still won out as price was unable to end any of the trading weeks in 2018 above $180. - Last week, we had another attempt at $180, which resulted in a sharp retreat. By the end of the week, we got a bearish engulfing candle.- Combined with an earlier bearish candle a month ago, this price action suggests bearish continuation in the short-term. - The extended bearish divergence suggests that the market is in consolidation mode already. Support:- In the larger picture (in the medium-term), this suggests further consolidation with downside risk back to $150. - If general market sentiment continues to be tentative as well, I would not be surprised if the bearish correction extends to $135, just above a previous resistance pivot. - We should still respect these support factors because the even larger picture (in the long-term) shows a bullish trend that has been intact.