$CVX – STRONG REJECTION AT RESISTANCE! RETEST OR REVERSAL?
$CVX pushed up to a fresh high of $4.403 but faced a sharp rejection, forming a possible lower high at $4.353 on the retest. Despite the drop, price is holding above key support at $4.28. If bulls reclaim $4.35 with strength, a breakout could resume. Otherwise, failure to hold $4.28 may lead to deeper retracement.
Long Trade Setup:
• Entry: $4.29 – $4.32
• Target 1: $4.38
• Target 2: $4.45
• Stop Loss: $4.22
Keep an eye on consolidation near $4.30. A clean breakout above $4.35 with volume will confirm momentum shift back to bulls.