CVX is a top pick in oil/gas if Venezuela expansion succeeds; current price action suggests early stage of uptrend.

Our last stock here is Chevron. We are slightly lower in the session, but they only announced yesterday that they will continue to expand their operations in Venezuela. Is that part of why they're among your top three today, Tim?

Yes, as you know, this is an idea I shared on the show "The Big Three" last January. I loved the idea that was about the "Delta Force" raid. There are still some truly amazing things .

I can't wait for books and movies about her to be released. But anyway, the idea in January was about opening up Venezuela, by replacing Maduro and opening up to a freer oil economy for them rather than one under control.

And when you look at the deals that the administration has made, which they are talking about now. Everything is still in its early stages. Obviously, we have to see how things develop.

But if you look at the chart from January to now, and if the Venezuela deal works out and what Chevron is doing, then I consider this my first choice in the oil and gas sector.

We'll see how things go , and I hope the situation in Iran ends soon. But if the situation there continues, I can clearly see the United States turning more towards Venezuela. Personally, I would prefer that the oil markets be fully opened without any restrictions, regardless of all these matters.

However, the chart has been strong since January; it broke through two days ago and then pulled back slightly. But if things go as I expect, I think we are still only at the beginning.

Well, let's give credit where credit is due . We have achieved about 37 percent since this idea was presented to us . I think that was in the first week of January. So, we tip our hats to you.

You were right in your prediction, and here I see the channel that formed in the latter half of the year , Rick, and it's completely upward. We have seen a slight decline as Tim mentioned in recent days, but what do you see in the technical analysis?

Yes, absolutely, but again, we are approaching those high levels we have recorded previously. The price of 214.71 is the level that must be surpassed here. We haven't quite reached that point yet .

Now, we have a price gap that also needs to be monitored. 211. The reason we monitor these gaps is that they are often closed in trades. I certainly can't guarantee that it will happen , but there's a reason why traders are watching these levels.

It represents a point at which some basic information changed or some kind of news occurred. A similar gap here near 202 would be an area that many traders might watch as a potential support if we start moving down and we fall below our trendline here in white.

Here stands another extreme low, relatively speaking , near 198. We also had a short-term low here near 186.

So, our moving averages now, a picture similar to our last chart, we can see that they are all mostly diverging from each other, except for the minor issue here which is that our 5-day exponential moving average has started to trend downwards here.

So, the divergence is starting to slow down here. We are on track to close below our short- term weekly exponential moving average here in dark blue. This level reaches 208.84.

So, if it starts to slip below this level, the shorter the moving average , the less reliable it is and the more likely it is to give false signals, but it is also the most responsive.

So, this might be something to keep in mind here if we start to stumble a little . Our 21-day exponential moving average in greenish-blue is at 202.66. It is very closely aligned with our trend line here.

So, this also represents a noteworthy potential breaking point if you are pessimistic, or a support zone if you are more optimistic.

The Relative Strength Index (RSI) has fallen below the overbought zone, i.e., the 70 threshold here. However , our green trend line is still valid . So, watch to see if we will regain our levels above that point and whether we will continue to record new relatively high levels.

Finally, in this case, there is a prominent volume node here, which is an increase in trading activity between approximately 204 and 206 . Therefore, this area stands out as a noteworthy area.

But the bulk of our activity comes here between 182 and 193, with the control point , which is our heaviest trading area ever , going as far as 188.

Right now, we are at 208.71 with a downward move of approximately 1.25 percent today. But as we said, more than 30% so far this year.