There's a long range Fib level (green line), and long term lower trend line (heavy black). Waiting to see if a bounce of this falling knife may ensue
Kind of clear-as-mud scenerio between swing or breakout
Using Donchian Channel boundaries for stop loss and entries. The trajectory still appears to be downward, but the lower channel boundary is the level of the recent March 2 opening candle shadow (inventory reversal) - usually when it goes lower than this level, it's a strong entry, provided the indicators aren't too oversold.
Possible target zones of congestive Fibonacci regions and trendlines
AET hitting 1.618 A-B projection from C, and .786 Fibonacci time projection (A-B from C)
Some confirmation probably needed, but looks like a downturn in progress
Some regions of resistance for short term
Possible projection to .786 timeline @ Feb 13, Price Value of 21.39
CVX is near an important decision level depending on whether it holds against long term black trendline, and starts building momentum to break upward.
Drawing up a basic ABCD pattern with Fibonacci levels, it seems possible that the Friday sell off hit solid resistance at bottom channel line, and 1.618 level, giving probability of a bounce next week.
waiting to see if short term downtrend develops from 786 Fibonacci
A fairly sloppy Head and Shoulders