Tuesday, March 17, 2015

Annual Trading Forecast on Chevron (2015)

Chevron stock (NYSE:CVX) is currently a bear market and long trades are not recommended here. The dominant bias is bearish and rallies would offer nice opportunities to go short.

Last year, the market would go up – only to drop downwards steeply. While short-term bulls could harness some gains in this kind of market, some bulls are sometimes trapped on the wrong side. Looking at the chart, the price has broken down away from the Trendlines, going further south. At the same time, the RSI period 14 is below the level 50. The price can thus reach the demand levels at 100.00 and 99.00.

This cannot be emphasized enough: it is better to trade what you see in the charts and respect what the market is doing. By riding the trend, one can make huge profits from this price action. There are countless examples of few winning positions making up for many losing positions.

This forecast is ended by the quote below:

“No super indicator or crystal ball or occult powers decide whether your trading account is in the black or in the red at the end of the day. Over the medium and long term, it is your own discipline, a reliable broker, and above all risk and money management that determine success or failure in the markets.” – David Pieper

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

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