Chevron (CVX) preview April 20, 2015

CVX shares have broken two longer-term trendlines providing resistance. Price needs to exceed $112.50 in order to form a higher high and confirm the upside potential. Till then, rallies can be shorted, keeping an eye on crude oil prices.

CVX price (2 years)

cvx

Chart courtesy of StockCharts.com. http://stockcharts.com

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