03.02.2016 - Price of Chevron will continue to fall

Price of Chevron demonstrated a strong decline after failed to overcome the level of 87.00 within the correction. Currently quotations approached the support level at 80.00 and in case of breaking through it, the downward trend will continue with the first targets at 75.40 and 70.00. The growth in the near future is limited by an upper limit of the downward channel. We expect a further fall in prices and recommend holding short positions with a stop above 90.00.

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