Prediction evidence

Starting to think that the $3 region on $CVX that I have as my initial target may not offer much in the way of resistance and we may head for the range highs at $8+ quicker than expected. Primary reason is because the CVX/CRV pairing looks quite bullish here, implying that it may be time for a bit of outperformance on $CVX relative to $CRV. On the other hand, CRV is printing clearly impulsive PA, while CVX is clearly still trapped in our range, with no indication of impulsive PA just yet. This makes me believe the window of outperformance on CVX may just be during this move through the range highs at $8+ and then CRV probably takes the reigns back for a bit. A 100+% outperformance on CVX to the range highs of $8+ would put $CRV in the .60-.70 region, which lines up nicely with our next short term target zone.