Chevron Corporation (ticker: CVX), commonly known as Chevron, is one of the world’s largest multinational energy corporations. The company operates in all aspects of the oil, natural gas, and geothermal energy industries. This includes exploration, production, refining, marketing, and transportation. The stock is bullish in larger degree. However, in shorter cycle, it is still correcting cycle from 3.19.2020 as a flat.

Chevron monthly Elliott Wave chart

Chart

Monthly Elliott Wave of Chevron (CVX) shows that the stock has ended wave ((II)) super cycle correction at 51.06 in the year 2020 and resume to a new high. Up from wave ((II)), wave (I) ended at 182.4 and wave (II) pullback is in progress as expanded/running flat to correct the rally from 3.1.2020 low before the the stock resumes higher again. As long as pivot at 51.06 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

Chevron daily Elliott Wave chart

Chart

Daily Elliott Wave view in Chevron above shows that wave (II) pullback is in progress as a flat structure to correct cycle from 3.20.2020 low before the next leg higher.  Stock still has scope to correct lower further before ending wave (II) and resumes higher.

Chevron Elliott Wave forecast video

 

Share: Feed news

FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.

Recommended content


Recommended content

Editors’ Picks

AUD/USD remains pressured below 0.6800 after Chinese data dump

AUD/USD remains pressured below 0.6800 after Chinese data dump

AUD/USD is holding losses below 0.6800 after China's GDP missed estimates with 4.7% YoY in Q2 2024. Mixed activity data from China and a broad US Dollar rebound add to the weight on the pair, as risk sentiment stays tepid following the weekend's Trump attack. 

AUD/USD News

EUR/USD stays weak below 1.0900 as US political violence boosts US Dollar

EUR/USD stays weak below 1.0900 as US political violence boosts US Dollar

EUR/USD is on the defensive below 1.0900 in the Asian session on Monday. The pair edges lower amid risk aversion on the Trump rally shooting, which has put a bid under the US Dollar. The focus remains on US politics and Fedspeak looking ahead, 

EUR/USD News

Gold price remains depressed amid modest USD strength, holds above $2,400 mark

Gold price remains depressed amid modest USD strength, holds above $2,400 mark

Gold price struggles to capitalize on Friday's goodish rebound from the $2,391 area and kicks off the new week on a weaker note. This marks the second straight day of a downtick and is sponsored by a modest US Dollar strength, which tends to undermine demand for the USD-denominated commodity.

Gold News

Shiba Inu erases losses from past week, eyes 18% gains

Shiba Inu erases losses from past week, eyes 18% gains

Shiba Inu traders are anticipating the roll-out of futures contracts, products like Exchange Traded Funds that could boost the asset’s utility. An IBC report shows the contract is expected to be listed post Monday, July 15.

Read more

Trump Assassination Attempt: Gold, stocks set to decline on Republican sweep speculation Premium

Trump Assassination Attempt: Gold, stocks set to decline on Republican sweep speculation

Fist in the air and on with the fight that has been the historic picture that former President Donald Trump shortly after he survived an assassination attempt on his life. Trump was injured in his ear but seems to have come out stronger politically from the shocking political violence. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures