$CVX Update: Bounce Incoming or More Downside?
($CVX) is showing strong bullish momentum on the 1-hour chart, currently trading at 2.479 with a notable +13.56% gain. The SuperTrend (10,3) is firmly green with support established at 2.213, while the RSI(6) has reached 80.60, indicating that the asset is now in overbought territory and may face a minor consolidation.
🎯 Trade Setup
EP (Entry): 2.380 – 2.470
TP (Targets)
TP1: 2.580
TP2: 2.750
TP3: 2.900
SL (Stop Loss): 2.180
The price action recently reclaimed the 2.40 zone, turning previous resistance into a local liquidity floor. A sustained hold above the SuperTrend support at 2.213 is critical to maintain this upward trajectory and target the next major resistance levels near 2.60.
Do you think ($CVX) can flip 2.50 into support tonight, or are we heading for a retest of the SuperTrend floor?
Watching this level closely.
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