(Last Updated November 23, 2020)
Hello! This is the news page for Chevron Corp. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
As for trends on CVX, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
The moving averages on CVX summarize its price action in an interesting way. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 100 and 200 day averages that imply a bearish trend. Ultimately, this suggests a bullish trend on shorter timeframes, compared to a bearish trend when observing more than 3 months of data.
Below is a chart showing CVX’s price with its moving averages.
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
This move happened on lower volume, as yesterday’s volume was down 3.21% from the day before — and down 23.07% from the same day the week before.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
Many factors that come into play with oil from global processes of exploration, extraction, refining, transporting (often by oil tankers and pipelines), and marketing of petroleum product which has created millions of jobs worldwide.
Now i can’t help the investors that think the sky is falling and somehow global dependence on oil has just completely disappeared because of covid, those peoples judgement is clearly clouded by fear of near term uncertainty.
For another vantage point, consider that chevron corp’s price has gone down 6 of the previous 10 trading days.
Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
This is a reversal of the price action on the previous hour, in which price moved up.
Who is going to have the lowest prices to survive and who will fizzle out?