The first is that the price has reached the upper line of the uptrend channel.
The second is tight spreads on the January 26-27 high volume bars.
Third - the White House doesn't like prices too high because expensive gasoline increases consumer spending, which lowers the president's rating.
CVX stock price is at a record high because of high oil prices. But the chart says there are massive sell orders in the market that are holding back the uptrend. Perhaps it is profit taking by big players in anticipation of lower prices.
The second is tight spreads on the January 26-27 high volume bars.
Third - the White House doesn't like prices too high because expensive gasoline increases consumer spending, which lowers the president's rating.
CVX stock price is at a record high because of high oil prices. But the chart says there are massive sell orders in the market that are holding back the uptrend. Perhaps it is profit taking by big players in anticipation of lower prices.