Chevron Wave Analysis – 7 February, 2022

• Chevron broke long-term resistance level 133.20

• Likely to rise to resistance level 140.00

Chevron continues to rise strongly after the earlier breakout of the long-term resistance level 133.20 (previous yearly high from the start of 2018).

The breakout of the resistance level 133.20 coincided with the breakout of the resistance trendline of the weekly up channel from the middle of July.

Chevron can be expected to rise further toward the next resistance level 140.00 (target price for the completion of the active impulse wave (3)).