FAA:Every Boeing 737 Max 9 with a plug door will remain grounded until each can safely fly

<p>The FAA is out saying:</p><ul><li>Every Boeing 737 Max 9 with plug door will remain grounded until agency finds each can safely return to service</li><li>Boeing is revising initial version of instructions for 737 Max 9 inspections and maintenance.</li><li>FAA says after it receives a revised version of Boeing 737 Max 9 instructions, it will conduct a thorough review.</li></ul><p>Boeing shares are down -3 dollars or -1.31% at $225.57. The price low today breaks $223.14. That got close to the 50% midpoint of the move up from the October low at $221.67. Yesterday the price gapped below its 200 hour moving average which is currently at $247.18. Its broken 38.2% retracement of the same move higher comes in at $232.42 (see chart below). It would take moves about each to give the buyers more confidence. Absent that and the sellers remain more in control.</p><p>Looking at the daily chart, the 100 and 200-day moving averages come in at $214. A break below the 50% midpoint at $221.67 would open the door for a move toward those moving average levels.</p>

This article was written by Greg Michalowski at www.forexlive.com.