CVX should keep rising on a strong chart, oil's gap higher and geopolitical safe-haven demand, but gains shouldn't be huge. At ~$232 it is extended vs its 20-week average: either it rises until that average catches up or pulls back, with ~$200 then ~$185 support; a collapse would likely mean energy is collapsing too.

Okay, let's take a look at your last option here. You have Chevron, and we have energy as the dominant sector today as we look at oil prices above $100, but you've been a longtime fan of Chevron, Tim. So, how do you view Chevron now?

Yes, I think I first came up with this idea probably on the Friday following the raid on Venezuela. Learn, you can go back and match that to your chart, it's been an amazing trend from there.

Indeed, there has been some volatility this summer, but going back to the time of that raid in Venezuela, trading there has increased. You know, the idea was to lift the restrictions on Venezuelan oil .

As you know, when you look back at the idea of trying to find strong chart patterns in this market, it's truly amazing that this continues to rise. I had hoped, you know, that we would be done talking about these oil and gas stocks, but you go where the charts are strong, and you follow the prevailing trend.

As I mentioned earlier, it frustrates me, but there are all these rumors, and I read "X" a lot . You need to be very careful, there are a lot of rumors about things possibly escalating over the weekend.

What does that mean ? There is a significant gap in the rise of oil, and this means that Chevron will likely continue to rise. It is a type of safe investment, with a strong chart , oil and gas, and a geopolitical situation.

Don't expect this to generate huge profits, but going back to looking for strong chart patterns in a volatile market, I think Chevron is one of them .

Okay, so AKG, what do you see here? Because they're up 52% since the start of the year, which is about the same amount if we look at the whole year, but from a technical standpoint, it looks like we're moving upwards in a fairly straight line at the moment .

Okay, I'll try to stick to the technical aspects only, but you know me, I love the energy sector in general and I love talking about it. From a technical perspective on the 3-year weekly chart , the stock was in a consolidation phase for a very long time before it actually broke out, and we can see that.

Initially, the support level was around 135 to 137. The resistance area was around 167 or so, and then we saw this breakout . The breakthrough, of course, occurred at the beginning of this year, bypassing the geopolitical risks because it was in January of this year.

We didn't see strikes until the end of February, but we did see a strong upward move, with some resistance around $215. We had that memorandum of understanding which was adhered to for a brief period .

We witnessed a decline. The stock attempted to consolidate at the 20-week moving average. Unfortunately , he failed at that. Where did he go next? To the 50-week moving average.

We saw some buyers step in, the 20-week moving average broke through again, consolidated, and continued to rise. The 215 level was a key resistance area. We tried again, and now we are witnessing that upward breakout as the stock trades at approximately $232.

Here's something that's a little worrying. If you look back at the history of this stock, Chevron has n't been trading far from its 20-week moving average for a long time. Therefore, it will either continue to rise until it catches up with the 20-week moving average , or we will see a decline.

If a pullback occurs, you are looking at around $200 as the first support zone, and then $185 as the next support zone . The Relative Strength Index (RSI) is attempting to reach overbought levels here.

You can see it bending upwards somewhat. The MACD indicator is in a bullish formation, with the 12 line above the 26 exponential moving average. Technically speaking, this chart is good.

Well, you have to look at history and say that something has to change. Either the moving average moves rapidly upwards, or we see a collapse in the stock, and this would likely also indicate a collapse in the energy sector as a whole.

Good. As we look at Chevron, it's up 2.8% today, but I have a strong feeling we'll be talking about energy again during the Market on Close closing panel. So, you'll get another chance to talk about one of your favorite sectors.