Intel Corp. $INTC has been in a period of correction. If it continues to be in this mode, we should see resistance as price approaches $50 from the recent rebound.INTC Daily Chart(click to enlarge)Key Resistance:- As we can see on the daily chart, price has already fallen below the 200-day simple moving averages (SMA), AND has held under this key moving average.- Furthermore, the RSI has held under 60, a sign that the bearish momentum remains intact.- Recently, price bounced up from the $42-$43 common support from late 2017/early 2018.- While this is a key support, the bullish outlook should still be limited in the current mode of consolidation/correction in INTC as well as the general market.- With this bearish consideration, we should monitor the $48-50 area as a key resistance area that involves previous support/resistance pivots and the 200-day SMA.Long-term Bullish Outlook:- In the medium-term (in 2018), price has been in a bearish correction mode.- The weekly chart reveals that the overall long-term trend has been bullish, with price holding above the 200-week SMA. - Furthermore, the RSI is right around 40. This means, the current 2018-correction is likely to approach an end soon IF the overall trend is indeed still bullish.- I think a break above $50 would open up a bullish continuation outlook.- However, if the short to medium-term market risk continues to drag INTC, the $50 area might still act as resistance.- If this bearish correction scenario extends, there could be downside to the $38-$40 area, which was a key previous resistance. This would also be where the 200-week SMA will likely meet price. INTC Weekly Chart(click to enlarge)