Welcome to my new analysis about XOM on several timeframe perspectives. The oil market has shown up with a massive pullback to the downside since the war developments have put heavy pressure on the whole oil market and drove the supply rally within the market. Since then the market managed to recover with a substantial rally moving into new all-time-highs and is actually forming a massive gigantic formational-structure here from where the market is setting up further determination dimensions.
Currently XOM is forming a continuation-formation on the local timeframes which is an crucial wedge-formation, and this wedge-formation has a increased potential to complete within the next times. Once this formation has been completed the targets as mentioned in my analysis are going to be activated. From there on the volatility within the market has to be determined further and if the already established XOM developments hold on there is an increased possibility for the market to continue into the already established direction.
XOM being the largest market-cap stock within the oil market sector is driving the oil market and wall street developments of oil stocks increasing by over 60%. The fact that the oil market could recover from the main war shocks that showed up with massive bearish pullbacks within the whole market does not mean this holds true for the whole stock market because there are sector stocks within the market that actually show greater bearish inclinations. In this case it will be highly determining on how the whole oil market actually continues and if the established dynamic holds on for this sector stock.
In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated.
VP
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ANALYSIS UPDATE: XOM continues with emerging strong bullish volume and increased momentum indicating a final breakout to follow next.
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ANALYSIS UPDATE: XOM increased major bullish volatility to the upside bouncing above the 100 level.
This is likely to follow up with a massive breakout into new all-time-high zones in the next times.
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ANALYSIS UPDATE: XOM greatly increased with the bullish bouncing within the range moving into the all-time high area and preparing an extended upside breakout.
XOM once it greatly completed the bull-flag formation is going to activate minimum targets of 150.
What are your ideas about XOM? Post your comments, questions, and ideas here.
Clarkbar2
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Vince Prince doesn't seem to relish blowing his own horn.. therefore we must do it ourselves... WITH MUCH APPRECIATION... THANK YOU, VINCE.. FOR LEADING THE CHARGE~!!