12.11.2014 - The probability of falling Chevron shares remains high

Chevron's stock price after the strong decrease corrected upwards and is trying to break the upper limit of the downward channel and the level of 120.00. If the price fixates above 122.00, we recommend to open long positions with the targets near 126.00 and 133.40. At the moment there is a high probability of reduction to the level of 110.00. In case of opening short positions the stop should be set above 122.00. We forecast a drop in prices in the medium term and recommend to open short positions.

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