🔥 Hello TradingView traders, hope you’re all doing great!
Wishing you green trades and strong risk management 🌱
Today, we’re going to analyze one of the main stocks in the Dow Jones index:
📌 Chevron Corporation (CVX)
🛢️ Company Overview
Chevron is one of the world’s largest energy giants and a core component of the U.S. oil & gas industry.
The company operates across:
Oil & gas exploration and production
Refining and distribution
Alternative and renewable energy initiatives
CVX is considered a defensive, fundamentally strong Dow Jones stock, often performing well during inflationary cycles and periods of elevated oil prices.
📊 Technical Analysis – CVX (Daily Timeframe)
Based on the chart structure, price has been moving within a long-term range while trading below a descending trendline acting as dynamic resistance.
🔴 Bearish Scenario (Stronger & Primary Scenario)
❗️This scenario currently carries higher probability:
Price has been rejected from the dynamic resistance
A Rounded Top formation is developing around the 155–160 zone
The key short-term support (S/T) at 147.5 is now being tested
📉 If price breaks and closes below 147.5:
First target: Daily Support around 136–138
Next major downside target: 112 (long-term major support)
➡️ If selling pressure increases, this move could accelerate sharply to the downside.
🟢 Bullish Scenario (Alternative Scenario)
This scenario becomes valid only if market structure changes:
Holding above the 147.5 support level
A confirmed daily breakout above the descending trendline
📈 After a valid breakout:
First target: 166–168
Next target: 174 and higher
⚠️ Until a confirmed breakout occurs, this scenario remains secondary.
🧠 Conclusion
Current structure favors the bears
A support breakdown opens the door for deeper correction
Bullish continuation requires a clear breakout and daily confirmation
⚠️ Disclaimer
This analysis reflects personal technical opinion only and is not financial advice.
Always trade based on your own strategy and proper risk management.
You are fully responsible for your trading decisions.
📊 Poll – What’s your view?
🗳️ Which scenario do you think CVX will follow?
1️⃣ Break below 147.5 and continuation toward lower support levels
2️⃣ Hold support and break out to the upside
3️⃣ Continue ranging
4️⃣ Waiting for confirmation / No trade yet
👇 Drop your thoughts in the comments
Wishing you green trades and strong risk management 🌱
Today, we’re going to analyze one of the main stocks in the Dow Jones index:
📌 Chevron Corporation (CVX)
🛢️ Company Overview
Chevron is one of the world’s largest energy giants and a core component of the U.S. oil & gas industry.
The company operates across:
Oil & gas exploration and production
Refining and distribution
Alternative and renewable energy initiatives
CVX is considered a defensive, fundamentally strong Dow Jones stock, often performing well during inflationary cycles and periods of elevated oil prices.
📊 Technical Analysis – CVX (Daily Timeframe)
Based on the chart structure, price has been moving within a long-term range while trading below a descending trendline acting as dynamic resistance.
🔴 Bearish Scenario (Stronger & Primary Scenario)
❗️This scenario currently carries higher probability:
Price has been rejected from the dynamic resistance
A Rounded Top formation is developing around the 155–160 zone
The key short-term support (S/T) at 147.5 is now being tested
📉 If price breaks and closes below 147.5:
First target: Daily Support around 136–138
Next major downside target: 112 (long-term major support)
➡️ If selling pressure increases, this move could accelerate sharply to the downside.
🟢 Bullish Scenario (Alternative Scenario)
This scenario becomes valid only if market structure changes:
Holding above the 147.5 support level
A confirmed daily breakout above the descending trendline
📈 After a valid breakout:
First target: 166–168
Next target: 174 and higher
⚠️ Until a confirmed breakout occurs, this scenario remains secondary.
🧠 Conclusion
Current structure favors the bears
A support breakdown opens the door for deeper correction
Bullish continuation requires a clear breakout and daily confirmation
⚠️ Disclaimer
This analysis reflects personal technical opinion only and is not financial advice.
Always trade based on your own strategy and proper risk management.
You are fully responsible for your trading decisions.
📊 Poll – What’s your view?
🗳️ Which scenario do you think CVX will follow?
1️⃣ Break below 147.5 and continuation toward lower support levels
2️⃣ Hold support and break out to the upside
3️⃣ Continue ranging
4️⃣ Waiting for confirmation / No trade yet
👇 Drop your thoughts in the comments
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.