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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 – 4Hr 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

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