Daily MACD – The MACD moved lower today. Yesterday it looked like the histogram was going to make a turn for a bounce but bearish pressure stopped it.
Major Support Level – I will be looking for support to come in soon. The market has had a lot of bearish pressure including comments from J.P. Morgan CEO Jamie Dimon. I would say around $240 as drawn below should catch support.
Major Resistance Level – The price is now lower than the trendline I was watching closely. However, I really don’t see price going below $200 ever again. If it does I will be buying.