Chevron is pretty much following the expected path but now caution is warranted. We are quite confident there's some life left in the Energy sector that should push CVX towards 104 our ideal target with a possibility to reach 110 the 61.8% retracement and the apex of a previous triangle but with the overall stock market getting a bit thin I would definitely take...
"DESCRIPTION ON CHART"
PRICE IN ENTERING "PROBABITIY ZONES" IT PROVIDES INFORMATION WHERE TO ACT AND WHAT HAPPENS IF PRICE BREAKS THE AREA. HAVING INFORMATION BASED ON PATTERN AND TIME HELPS ONE FORM THERE ROADMAP FOR "THE TRADE"
DESCRIPTION ON CHART..... PRICE IS GETTING READY TO CHOOSE ITS LAUNCH FROM THE BOX...
DESCRIPTION ON CHART..... WATCH LEVELS FOR RESPONSE.....
DESCRIPTION ON CHART....STUDY PRICE ACTION ....... WE GET PAID TO WAIT.
DESCRIPTION ON CHART..
STALKING A "TREND LONG" NO OVERBALANCING ON THE INTERMEDIATE TREND YET...
PRICE SITS ON "POTENTIAL SUPPORT" THEN SHOWS Its hand through Price Action Manage.......
CRUDE is getting pulled up to higher "Price Flow areas....Price shouldn't take the low of the three bars back...if it does the trend is suspect.
WE ARE ENTERING "TIME AND PRICE " IN A POTENTIAL REVERSAL ZONE.
LAYING OUT THE PROBABLE PATHS OF PRICE $26.06 -23.80 AT SUPPORT...WEEKLY CLOSES ARE SHOWING BUY TAILS. LOWER TARGETS ARE STILL POSSIBLE 35% CHANCE PRICE ACTION WILL CONFIRM ITS PATH.
Time Window is there.....pullback or melt up to the Harmonic Levels...... Inside Day today possible forming.
Traders have seen this before, and it continues to play out as the global economic climate breaks down. Although these pullbacks in the SPX are often lofty and swift, it is important to realize volume is the most import factor when considering the validity of a pullback. Here , we can see that the move in SPY is volumeless. The entire squeeze from the Feb. 11...
ODDS FAVOR A BOUNCE...POSSIBLE RETEST OF THE LOW OR FALSE BREAK DEEPER INTO THAT AREA.
A BREAK ABOVE CAN LEAD TO TARGETS OF $45-$48 IF NOT HIGHER OR ANOTHER NEW LOW TO $18-16
WEEKLY PERSPECTIVE.... 26.06 - 23.80 MIGHT CAUSE A REACTION.....LOWER TARGETS OF COMPLETION ARE STILL IN "TIME" $CL_F $USO $DWTI $UWTI $OIL $XLE $DTO $UCO $CVX $XOM $HAL $EXXI $SCO $ETE $XOP