Sep. 9 at 7:20 PM
$CVX — Short Term Strategic Snapshot Analysis
Price:
$213.95
Technical Bias: Bearish 🐻
Resistance:
$215.24
Support:
$206.83
At
$213.95, this one's drifting beneath
$215.24 resistance in a strong downtrend that hasn't shown any real sign of reversing.
Momentum: A sustained move below
$206.83 would strengthen the bearish structure. A move above
$215.24 would weaken the near-term setup. The bearish lean feels deliberate — no sharp collapse, but the tape keeps sliding lower without catching a meaningful bid.
Setup: Resistance at
$215.24 is close overhead, yet price can't find the lift to challenge it, which says something about how weak the current posture really is.
Risk Profile: With
$206.83 support sitting well below
$213.95, the downtrend still carries plenty of room beneath it.
What do you make of CVX at these levels?
Just a quick note that this is not investment advice. Do your DD!!!