Chevron stock (LSE:CVX) is a bear market; being in a downtrend. The uptrend that was seen in November and December 2017 ended at the beginning of this year.
Price has gone south this year, having broken below the lower Trendline. The RSI period 14 is below the level 40, showing the bears have upper hands right now.
There is a bearish signal on Chevron and price is expected to reach the demand levels at 105.00, 104.00 and 103.00 before the end of this year. Any rallies in the market may be ignored because the bearish targets for the year could even be exceeded.
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