The Head&Shoulders on Chevron Corp is still valid, until the rejection level is breached. Although the Throwback faltered, which has sent the equity towards the rejection level, breaking out of the Neckline, will send CVX seeking 77.31, with 82.73 as a primary objective.
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Chevron Corp has reached the primary objective, yesterday. It will be heading towards The H&S's objective @ 77.31. The trend remain bearish as long as Oil prices are falling.