Technical indicators signal a Bearish Flag forming. Verify the setup on the chart.
Bearish continuation if preceding move was down.
Traders are watching Chevron Corporation (CVX) as price action tightens. Price has moved to $190.69 (-0.33%) amidst recent volatility. Price action has carved out a classic Bearish Flag. The trend indicator is reading 4.9/100, suggesting moderate momentum. A potential breakout level is identified at $177.9, targeting $141.27 with support near $198.87 (R:R 1.75).
What is your outlook on CVX?