Jun. 5 at 8:15 PM
$CVX (CVX)
We’ve now entered the target zone.
From here, it becomes a monitoring phase. The key is not direction, but structure confirmation:
A clear neckline needs to form on the 4H timeframe
Until that happens, the low remains unconfirmed
Structurally:
A move through the 1.07 area and recovery of 1.68 would define a more complete bottoming structure
This is still the mid-phase of base building, not a confirmed reversal
Bottom line: price is in range, but structure is not complete yet.
