XOM Daily Chart Analysis

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A. XOM             started the day off by shooting up to $101.75 and then basing and continuing upwards to the high of day.
B. At the high, XOM             got hit by a barrage of selling, pushing it down $0.15 - Price quickly rebounded but on VERY high volume demonstrating a high level of selling - not making a new high.
C. Price found support again at its previous basing levels however it rejected higher prices - this led to a drop in price and one candle that tried to re-test support and quickly rejected.
D. Price had a long pin bar demonstrating an immediate rejection of lower price - price rebounded with moderate hesitation however strength was shown when the secondary pullback once again found support at the pin bar level.
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