A negative divergence of MACD signalled the June top. The correction is still ongoing. MACD has just printed a new low. The wide ranging bar of 4 August indicates heavy selling. Prices reached the support at $160 and printed a rebound at $180, which is now a resistance. I would not go against the trend in this phase. I would wait for a reversal formation. Prices are moving to attempt the retest of $160.
On the 60-minute chart you can see the positive divergence when the rebound started.