$CVX is losing steam near local highs and showing clear signs of an upcoming bearish correction...
$CVX — SHORT
TP: 1.8500
Stoploss: 2.2200
Why this setup?
Because $CVX has struggled to maintain momentum following its spike toward the 2.184 resistance ceiling. Analyzing the core indicators, the MACD reads DIF at 0.068, DEA at 0.067, and MACD at 0.000, while the RSI(6) stands at 62.40, reflecting exhaustion among buyers after the recent rapid ascent. With upside traction fading, a drift toward lower support regions is heavily favored.
Trade here ⬇️
$CVX — SHORT
TP: 1.8500
Stoploss: 2.2200
Why this setup?
Because $CVX has struggled to maintain momentum following its spike toward the 2.184 resistance ceiling. Analyzing the core indicators, the MACD reads DIF at 0.068, DEA at 0.067, and MACD at 0.000, while the RSI(6) stands at 62.40, reflecting exhaustion among buyers after the recent rapid ascent. With upside traction fading, a drift toward lower support regions is heavily favored.
Trade here ⬇️