Crude Oil has fallen from it's high of about $83.55 in late May, consolidated for about 3 months & a sneaky double top was formed(highlighted box). Exxon has also come of it's highs of about $120 in April, now trading @$104.29, which followed another high of $120 in February, creating a double top on the weekly charts.
Exxon (XOM) seems prime to fall with a chewed up supply zone/resistance level/area & plenty of room to fall until until the demand zone/level which is around the $90 area
Exxon (XOM) seems prime to fall with a chewed up supply zone/resistance level/area & plenty of room to fall until until the demand zone/level which is around the $90 area