Is Momentum Changing for Chevron Corporation? Price Just Crossed Above Its 100 Day Moving Average

The Hourly View for Chevron Corporation

At the time of this writing, CVX’s price is down $-1.88 (-1.19%) from the hour prior.
Chevron Corporation has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Chevron Corporation’s hourly price chart is shown below.

Currently, CVX’s price is down $-8.34 (-5.08%) from the day prior.
Chevron Corporation has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
Regarding moving averages, it should first be noted that price has crossed the 100 day moving average, resulting in them with price now being below it. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Chevron Corporation.

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