Why Is Chevron Stock Falling on Monday?

Chevron Corporation (NYSE:CVX) shares fell on Monday as global crude oil prices continued to decline for a fourth consecutive session. The Nasdaq is up 2.40% while the S&P 500 has gained 1.37%. Brent crude traded near $95.45 a barrel, while U.S. crude futures hovered around $91.53, as traders monitored diplomatic efforts to end the U.S.-Iran conflict and signs that oil shipments were beginning to move through the Strait of Hormuz, according to Trading Economics. Read Also: SpaceX Finds Way Around Data Center Moratorium As 300-Plus Restrictions Delay 3 Projects Technical Analysis From a longer-term trend view, CVX is still in an uptrend: it’s trading 11.1% above its 200-day SMA ($184.17) and 7.1% above its 100-day SMA ($191.04). The stock is also holding above its 50-day SMA ($199.33), which keeps the intermediate trend constructive despite today’s pullback. Near-term, the tape is choppier because price is now trading 1.9% below its 20-day SMA ($208.57), a common sign that upside momentum has cooled after a strong run. RSI sits at 48.18, which signals neutral momentum—neither stretched to the upside nor washed out—so traders often shift focus to nearby levels rather than expecting an immediate trend acceleration. The chart also has a bullish moving-average backdrop (the 20-day SMA is above the 50-day SMA, and the 50-day SMA is above the 200-day SMA), but the stock has been digesting gains since the September swing high and 52-week high. If sellers keep control, the July swing low becomes the key reference point for whether this is a normal pullback or something deeper. Key Resistance: $209 — a nearby round-number area that also sits close to the 20-day averages, where rebounds can stall Key Support: $198 — a nearby pivot zone that lines up closely with the 50-day SMA area, where dip-buyers may defend trend support CVX Stock Price Activity: Chevron shares were down 2.34% at $204.61 at the time of publication on Monday, according to Benzinga Pro data. Read Also: Fed’s Goolsbee Sounds the Alarm on Inflation: October Hike Odds Stay Above 50% Image via Shutterstock