Rounding Top/Symmetrical Triangle

lauralea Updated   
NYSE:CVX   Chevron Corporation

Target 1 has been met. Targets 2 and 3 posted in case price goes above T1, being aware that other patterns form and things change.

There is also a W pattern that may or may not go further than the 1.113 but price has touched this Fib level.

Targets for the triangle could take this higher so I guess it is up to the market as there are conflicting patterns on this chart.

A rounding top is a chart pattern used in technical analysis identified by price movements that, when graphed, form the shape of an upside-down "U." Rounding tops are found at the end of extended upward trends can signal price reversal or a pull back. Not always.
Inverted cup and handle patterns are the inverse of their counterpart the cup and handle and look like a rounded top, but there would be a leg up soon to form a handle if this were an inverted cup. As a rule, inverted cups are a bearish pattern .

No recommendation.

For the shorter term trader, time can become an enemy )o:

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