Alright team, let's break down this $CVX chart.
Looking at the 4-hour, it's been a choppy ride since the 17th. We saw a nice push up towards that 5.29 area, but couldn't hold it. Since then, it's been a steady grind down.
We bounced pretty hard off that 3.80 support zone, which is good to see. Right now, we're trying to reclaim some ground, hovering around 4.27. Volume looks decent on this bounce, but nothing to write home about yet.
The key thing now is to see if we can hold this level and push past the immediate resistance around 4.40-4.50. If we can get above that, a retest of 4.70 isn't out of the question.
On the flip side, if we lose 4.20, we're likely heading back down to test that 3.80 support again. Keep your eyes peeled.
