2026-04-02
Market Status: CVX showing bearish momentum after sharp pullback from highs. Price still above all major EMAs (9/50/200) but losing steam fast. RSI crashed from 84.9 to 53.3 in just 2 days - classic overbought correction playing out!
Technical Picture: MACD histogram flipped negative, signaling weakening momentum. The April 1st gap-down from $210 is brutal - that's your new resistance zone. Currently testing support around $197-$198.
The Play: This looks like healthy profit-taking after a big run-up. Watch for consolidation around $198 before next move. Tomorrow likely sees continued pressure as the selloff digests.
Trend: 🐻 BEARISH
Candlestick Pattern: Three Black Crows Formation (2026-03-31 to 2026-04-02: three consecutive red candles with lower closes, indicating strong selling pressure)
Support: 🟢 194.91
Resistance: 🔴 210.90
PUTBUYExpired CVX @ 195
Expiration: Apr 16, 2026 · 14 days out | This strategy has expired