Chevron Corp -CVX -Daily -Reshorting here on the bounce

366 10 5
Following the previous trade-plan to sell on a bounce.

The CCI is lifting just like the rally in January. A reading of "0" in CCI would be fine if it CVX             heads up again tomorrow.

The downside is to 119 target for this next swing trade down.

Tim 4:15PM EST 124.96 last
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Covering my short on this weakness this morning... Will re-short if it doesn't lift within 3 days. 121.11 last, -1.95
118.62ish is target
+1 Reply
timwest Marek99
Some people would make the LS back in May and the H up in July and the recent August high the RS, creating a rising NL from 122 to 125 and a 128 level to sell short. So, I may be early here, but I'm playing for a decline like the one back in January.
Marek99 timwest
I think the sanctions against Russia are going to continue until this Ukraine and NATO thing are going to get resolved. So short this baby until then, buy when Ukraine blows over, CVX has put considerable resources in Russia, which are now facing a real possibility of 100% loss.
It also looks like it really wants to retest the 126 level? MACAO says so, another peak forming, puts it at 126.55 - lol
+1 Reply
timwest Marek99
Great comments - Thank you -
Did you notice the H&S ?
timwest Marek99
Yes - sure :-)
The chart is untouched from the last published chart in CVX and from the start of the short-sale.
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