Chevron Corporation
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CVX drops and then starts to recover LONG

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CVX today dropped suddenly for unclear reasons. The possibility of a Israeli - Hamas War

cease-fire may have led to expectations that oil prices would fall as the shipping

quagmire in the Red Sea might stabilize. Later in the day OPEC+ announced a raised target of

$ 1.00 per barrel higher which on balance seems to be an offset maneuver. CVS in the drop

lost 2% printed a bear flag in about 90 minutes. i will use this opportunity to buy some all

options for September after the height of the summer driving seasons to add to my positions

in the futures ETF USO and OXY.

Nota
See also
USO is in a sweet spot on its chart LONG

Penafian

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