Chevron (CVX) — Technical Analysis

TradingView2026/03/07 21:09

By:TradingView

Chevron (CVX) — Technical Analysis

Trend
The structure is bullish. Price is moving inside a rising channel formed by two ascending trendlines, showing strong momentum since the start of 2026. The market has produced a sequence of higher highs and higher lows, confirming a continuation trend.

The lower red trendline acts as dynamic support, while the upper trendline defines the acceleration of the bullish move.

Key Support Levels

191.20 – Immediate support and recent breakout level

Lower ascending trendline – Dynamic support maintaining the uptrend

188–189 zone – Short-term structural support

As long as price holds above 191, the bullish structure remains valid.

Resistance Levels

194.75 – First resistance

198.29 – Major resistance and upper target zone

Price is currently consolidating below this resistance cluster.

Bullish Scenario

If price holds above the 191 support:

Break above 194.75 → continuation toward 198.29

Break above 198.29 → extension toward 200+

This would confirm continuation of the bullish channel.

Bearish / Correction Scenario

If price fails to hold 191:

A retracement toward 188 → 184 becomes possible.

A break below the lower trendline would indicate momentum weakening and could trigger a deeper correction toward 180.

Conclusion

Chevron remains in a strong bullish structure supported by an ascending channel. The key technical focus is 191 as support and 198 as the next major resistance. A confirmed breakout above 198 would likely trigger the next bullish leg toward 200+.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

Chevron (CVX) — Technical Analysis

You may also like

Trending news

Crypto prices