RSI trend line broken to the downside, Price is currently at 161.8% Fib resistance. With the bad news from Boeing Co, This may be a good resistance for a shorting opportunity
Boeing Co is expected to continue burning cash because of the pause in production of its 737 MAX jet. The airline said on Monday (16 Dec) that it would suspend all production in January The supply chain that is needed to make a 737 Max is huge and may cause a ripple in the production industry/economy because of all the suppliers that are supplying will temporary stop supplying until 737 MAX is certified as safe to fly again
1st Target: 3158 Final target: 3131-3120 OR Price touch 200 MA (Red Line)