CVX, Long or Short ?? Structure analysis for both
Updated
News Flow: Warren Buffet loads CVX in his Portfolio along with VZ
Price action : Price breaks previously held resistance area of 95-96 with convincing price action and volume , against a strong negative sentiment in the market.
Long Idea: Previously held Resistance(95-96) if it holds as Support, we can see a good upswing on this stock.
(Rotations at support is required to confirm the validity of the trend)
Short Idea: If Support line(95-96) line fails to provide Support, I would like to see the price action as shown to be convinced of Short switch
Price action : Price breaks previously held resistance area of 95-96 with convincing price action and volume , against a strong negative sentiment in the market.
Long Idea: Previously held Resistance(95-96) if it holds as Support, we can see a good upswing on this stock.
(Rotations at support is required to confirm the validity of the trend)
Short Idea: If Support line(95-96) line fails to provide Support, I would like to see the price action as shown to be convinced of Short switch
Trade active
Long at 104Trade active
missed the initial pullback as it was fast. entered early on the second level.Trade active
Loding up on June 18 110COrder cancelled
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