CVX is Neutral With Two Key Price Levels to MonitorNYSE:CVX has lost support at the light blue resistance line, and this light blue trendline has flipped into resistance. CVX is trading above a yellow support level at $131.47. There is neutral price action here, and I think CVX doesn't have a clear direction for now. I would look for buy opportunities at or below the yellow trendline if CVX starts trending down, I think there will be a rebound there. If CVX starts trending up I would monitor for a rejection at the light blue trendline. I think CVX should find a direction within a few weeks, and I'd be happy to revisit the chart.
