Chevron Wave Analysis 24 February, 2021

• Chevron rising inside sharp impulse wave 3

• Likely to reach resistance 103.85

Chevron continues to rise inside the sharp impulse wave 3 – which previously broke above the major resistance level 95.00 (former monthly high from November, December and January).

The breakout of the resistance level 95.00 strengthened the bullish pressure on Chevron.

Chevron is likely to rise further toward the next resistance level 103.85 (former multi-month high from June and the target for the completion of the active impulse wave 3).