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CVX completed the gap fill and has now recovered to multi-month highs, with the chart setup suggesting further upside potential remains in play.
Looking at the longer-term structure, CVX is pushing through a significant volume shelf while completing a multi-year trend breakout—a continuation setup that's been in motion since the COVID lows. The technical picture here looks compelling for those tracking the move.
Historically, CVX topped out at $189.68, which serves as the ultimate reference point for how far this rally could potentially run. Right now, momentum appears to favor higher prices given the confluence of technical factors aligning on the chart.