If Chevron Corporation (NYSE:CVX) is going to bounce, the spot revealed on the chart is where it will happen (Master Trend Line
+ 200MA). This is a major near term support and could possibly see a bounce on $CVX to $121.50. Down the line, this trend line
will give way and the stock will go much lower but in the short run, this may be a solid swing trade level.
Chief Market Strategist