Chevron – Monthly Analysis – ElliottWave

After the turnaround in oil, it is time to revisit Chevron’s long-term projection — the one we shared back in January. The key question is simple: does the original chart still hold, or has the latest move in crude changed the broader setup for CVX? Chevron sits at an important intersection of energy trends, oil price momentum, sector rotation, and long-term technical structure. When oil changes direction, major integrated energy names often respond quickly, but not always in a straight line. That makes the current setup especially important: Chevron may either be preparing to validate the original roadmap, or it may be approaching a point where adjustments are required. In this Chevron technical analysis, we review the long-term chart, reassess the January projection, evaluate the latest candle and momentum signals, and outline the most probable path forward. The goal is to determine whether CVX remains aligned with the original bullish…