![Chevron Wave Analysis – 26 October, 2021](/files/imagemanager/2/4/0/24029076cfb628afcb0afeea7a798176_7af99cf0de0cc7a9f50ef00da1920124.jpeg)
• Chevron broke long-term resistance level 112.16
• Likely to rise to resistance level 120.00
Chevron Corporation continues to rise after the price broke the long-term resistance level 112.16 (former monthly high from March and May).
The breakout of this resistance level accelerated the active impulse waves 5 and (C).
Given the clear daily uptrend, Chevron can be expected to rise further toward the next resistance level 120.00 (target price for the completion of the impulse waves 5 and (C)).