Chevron Wave Analysis – 26 October, 2021

• Chevron broke long-term resistance level 112.16

• Likely to rise to resistance level 120.00                                                                  

Chevron Corporation continues to rise after the price broke the long-term resistance level 112.16 (former monthly high from March and May).

The breakout of this resistance level accelerated the active impulse waves 5 and (C).

Given the clear daily uptrend, Chevron can be expected to rise further toward the next resistance level 120.00 (target price for the completion of the impulse waves 5 and (C)).