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Chevron (CVX): Bottom in Sight?Chevron ( NYSE:CVX ) has maintained a wide range between $167 and $137 since March 2022, with one notable push above this range likely corresponding to the completion of wave 3. The focus is now on identifying the wave 4 bottom, which we anticipate to form between the 50-61.8% Fibonacci retracement levels, or $128–$113. This range is supported by key technical indicators, including a High Volume Node Edge and a Point of Control (POC) within this area, adding significant confluence. From a macroeconomic perspective, Chevron faces challenges from declining crude oil prices, which is impacting investor sentiment. Despite a brief surge in oil-and-gas stocks following Donald Trump’s victory, this momentum has not sustained across the sector. Broader bearish factors such as weak Chinese demand, global overproduction, and OPEC’s indecision on further cuts add to the uncertainty. Bullish bets on oil due to geopolitical tensions have largely underperformed over the last two years, further pressuring the commodity and Chevron. Should NYSE:CVX reclaim the range high at $167, it could signal a trend reversal, suggesting the wave 4 bottom may already have formed at $135.55, the last significant low. However, if the resistance holds, further downside into the targeted area seems likely. We will continue monitoring how global tensions, oil price fluctuations, and broader market conditions impact Chevron’s performance. Until then, patience is key as we await a clear signal.
NYSE:CVXLong
by freeguy_by_wmc
NAS100USD Will Fall! Short! Take a look at our analysis for NAS100USD. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 20,544.9. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 20,006.6 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
OANDA:NAS100USDShort
by SignalProvider
2
SILVER Will Go Higher From Support! Buy! Please, check our technical outlook for SILVER. Time Frame: 15m Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 31.396. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 31.547 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
OANDA:XAGUSDLong
by SignalProvider
8
GBPCAD Will Go Up From Support! Long! Take a look at our analysis for GBPCAD. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 1.772. The above observations make me that the market will inevitably achieve 1.782 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
DXY Will Go Up! Long! Please, check our technical outlook for DXY. Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 106.671. Taking into consideration the structure & trend analysis, I believe that the market will reach 107.136 level soon. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
ICEUS:DXYLong
by SignalProvider
1
GOLD Will Move Higher! Buy! Here is our detailed technical review for GOLD. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 2,563.433. Considering the today's price action, probabilities will be high to see a movement to 2,641.101. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
OANDA:XAUUSDLong
by SignalProvider
2
USDJPY Is Bearish! Sell! Take a look at our analysis for USDJPY. Time Frame: 6h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 154.251. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 152.801 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
GBPJPY Is Very Bearish! Short! Please, check our technical outlook for GBPJPY. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 194.706. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 190.431 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1