Market Carve
Summary

2026-02-05

Market Status: CVX is on fire! ๐Ÿ”ฅ Trading at $179.20, well above all major EMAs (9: $174.92, 50: $162.29, 200: $155.21). This energy giant is in a strong uptrend.


Technical Indicators: RSI at 76.18 signals overbought territory but still below extreme levels. MACD histogram weakening from 1.03 to 0.93, suggesting momentum may be cooling. The Feb 5th doji pattern shows indecision after a strong rally.


Price Action: After surging from $173.88 to $181.23 in two days (+4.2%), CVX paused with a small red doji. Classic consolidation before the next move!


Prediction: Short-term pullback likely as overbought conditions ease. Expecting red candle tomorrow with weekly close potentially below current levels. Watch for support at $177-178 zone.

Insights

Trend: ๐Ÿป BEARISH

Candlestick Pattern: Doji/Spinning Top (Feb 5th: opened 179.64, closed 179.20 after two strong bullish days, indicating indecision and potential reversal)

Support: ๐ŸŸข 177.41 (Feb 5th low, also near Feb 4th open at 178.88)

Resistance: ๐Ÿ”ด 182.59 (Feb 4th high, recent peak)

PUTBUY CVX @ 175

Expiration: Feb 19, 2026 ยท 14 days out

CVX