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.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders' Mindset
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