ccelerates and the nearest support that could aid the CVX

At press time, the daily chart shows a decline after the CVX relative strength index (RSI) surged from 34 to 70 in the past 48 hours. The indicator shows that CVX is at 54.98, which seems to be declining from overbought, and there could be a strong whale manipulation in play. However, MACD still has a bullish cross in play with histogram, and 200-day EMA has pushed CVX down towards 50-day EMA.

Therefore, if bearishness accelerates and the nearest support that could aid the CVX price is $2.50 and $2.00. But, if CVX bulls regain traction, then out of the wedge breakout, the price could reach targets like $3.90 and $4.50.