TRENDING:

XAU/USD

Silver

Chevron Inc (CVX) Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

CVX Elliott Wave Analysis Trading Lounge Daily Chart,

Chevron Inc., (CVX) Daily Chart.

CVX Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Minor wave 1.

Direction: Upside in Minute {v}.

Details: Looking for a top in Minor wave 1, to ideally break previous wave B top at 171$ to give us additional upside confirmation.

CVX Elliott Wave Analysis Trading Lounge 4Hr Chart,

Chevron Inc., (CVX) 4Hr Chart.

CVX Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (e) of {iv}.

Direction: Upside in wave (i) of {v}.

Details: Looking for the potential triangle in wave {iv} to be completed and look for upside resumption.

Explore the latest Elliott Wave analysis for Chevron (CVX) as of May 20, 2024. Discover key support and resistance levels and potential price targets for CVX stock.

ETN Elliott Wave technical analysis – Daily chart

Chevron (CVX) is currently in the final stages of Minor wave 1, with an expected top in Minute wave {v}. We are looking for a break above the previous wave B top at $171, which would provide additional confirmation of further upside potential.

ETN Elliott Wave technical analysis – Four hour chart

On the 4-hour chart, CVX appears to be completing a potential triangle formation in wave {iv}. Once this triangle is completed, we expect an upside resumption in wave (i) of {v}.

Technical analyst: Alessio Barretta.

CVX Elliott Wave technical analysis

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

EUR/USD treads water above 1.1850 amid thin trading

EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day.

GBP/USD flat lines as traders await key UK and US macro data

GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.365 in Monday's European trading. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold sticks to intraday losses; lacks follow-through

Gold remains depressed through the early European session on Monday, though it has managed to rebound from the daily trough and currently trades around the $5,000 psychological mark. Moreover, a combination of supporting factors warrants some caution for aggressive bearish traders, and before positioning for deeper losses.

Bitcoin, Ethereum and Ripple consolidate within key ranges as selling pressure eases

Bitcoin and Ethereum prices have been trading sideways within key ranges following the massive correction. Meanwhile, XRP recovers slightly, breaking above the key resistance zone. The top three cryptocurrencies hint at a potential short-term recovery, with momentum indicators showing fading bearish signs.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.