CVX, Oil Price Spike to Fuel Bullish Trend!Chevron CorporationBATS:CVXVincePrinceHello There, welcome to my new analysis about CVX (Chevron) on the global timeframe perspective. The oil shortage and oil price spikes are continue to increase. This is driving surplus earnings of oil companies such as CVX higher. Currently, there is an increased likelihood that this will continue. As seen in my chart CVX already completed this massive ascending triangle formation. The breakout above the upper boundary has been the turning point of a massive spike in bullish volume and volatility. Right now CVX already bounced avove the 200 mark and is preparing the next bullish formation. Above the crucial level of 190 the price action is now building up. The several bounces within this area are the initiating points of this continuational bull flag formation. Such a formation is marking the continuation formation of a continued trend. In the next times, I am expecting the price action to form the next bullish inclinments with the price moving above the 200 level again and building up above it. Once this happens it is likely that the price action is going to complete this major bull flag formation. With the formation completed the minimum target zone of this ongoing volatility cycle will be within the 370 area marked in my chart. Once this zone has been reached further assumptions about the trend direction and momentum need to be made. Also, as the supply shortage and increased demand moves further this is also offering fundamentally bullish signals. It is also likely that speculative whale money is moving into the market more and more as they bet on an ongoing shortage and increased surplus values. What do you think about the stock? Are you currently trading the stock? Would you prefer a bullish outcome? Let us know in the comments! Thank you a lot for the support! VP