Chevron 
CVX is the only major U.S. oil company still operating in Venezuela, giving it a strategic advantage if there’s any stabilization or regime shift in the country’s oil sector.
Additionally, Chevron is owed billions by Venezuela’s state oil company (PDVSA) — representing potential upside if debt negotiations or repayments are revived.
This geopolitical angle adds a fundamental catalyst to an already strong technical setup.
📈 Technical Setup
Bullish structure intact above the 200-week EMA
Strong demand zone: $140–$150
Key resistance at $170 – a break and hold above this level could trigger a squeeze toward all-time highs
📊 Trade Plan
Entry Zone: $140 – $150
Take Profit Targets:
TP1: $190 – $200
TP2: $250 – $260
Stop Loss: Weekly close below $130
CVX is the only major U.S. oil company still operating in Venezuela, giving it a strategic advantage if there’s any stabilization or regime shift in the country’s oil sector.Additionally, Chevron is owed billions by Venezuela’s state oil company (PDVSA) — representing potential upside if debt negotiations or repayments are revived.
This geopolitical angle adds a fundamental catalyst to an already strong technical setup.
📈 Technical Setup
Bullish structure intact above the 200-week EMA
Strong demand zone: $140–$150
Key resistance at $170 – a break and hold above this level could trigger a squeeze toward all-time highs
📊 Trade Plan
Entry Zone: $140 – $150
Take Profit Targets:
TP1: $190 – $200
TP2: $250 – $260
Stop Loss: Weekly close below $130
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.