On December 6, 2023 initial market calculations indicated crude oil was under accumulation. As time progressed, a descending triangle took shape in 2024. Reviewing CVX, it was clear that significant distributions occurred on March 8 and March 9, 2022. This completed Market Maker objectives above the $150 range. Based on the descending triangle in CVX, there is a high probability of a decline.
Note that this information is for educational purposes only and not a recommendation.
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