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Analysis: #NYSE $CVX

Case 222 #Chevron Corporation

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#CVX 1/4
Chart 1
Weekly Chart: The break of long term #trendline and Fib. 0.50 combined #support at 83.18 has seen price quickly target the pivot and #Fib. 0.786 support zone at 54.90-53.48 where buyers halted the down move - which resulted in a $20 bounce. Further .....

CVX 2/4
..... gains are expected towards the #pivot and old trendline support now #resistance at 83.99 then declining trendline 95.54. The long term objective is 37.30-35.10 which is a major support and a strong reversal should occur.

CVX 3/4
Chart 2
Daily Chart: The #Strategy is printed on the image.

$CVX 4/4
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