$CVX Under Pressure Key Support Being Tested
$CVX Market Snapshot
Current Price: $1.748
24H Change: ~0.00% (flat, momentum cooling)
Intraday High: $1.782
Intraday Low: $1.714
What’s Driving $CVX Right Now?
has shifted from earlier strength into short-term weakness. Price is trading below the fast MAs (MA7 & MA25) and hovering near the MA99, showing fading bullish momentum. Volume has increased on red candles, signaling distribution and seller dominance rather than healthy consolidation. No fresh bullish catalyst is visible, keeping buyers cautious.
Key Levels to Watch
Immediate Support: $1.74 – $1.746
Major Support: $1.70 – $1.68
Immediate Resistance: $1.76 – $1.763
Major Resistance: $1.78 – $1.80
Trend Outlook:
Bearish (Short-Term) — Lower highs and sustained pressure below resistance.
Trade Idea (Conditional Setup):
SellShort Setup: If fails to reclaim $1.76 and breaks below $1.74, downside continuation toward $1.70 → $1.68 becomes likely.
Buy Setup: Only consider buys if price reclaims and holds above $1.78 with strong volume, which could open a move toward $1.85+.
Best Possible Trade Right Now: Sell / Short on weakness
Bulls need a clean breakout; until then, sellers have the edge.
Trade with discipline is at a decisive level where volatility can expand fast
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