cbud
Short

XOM showing a very clear corrective rally termination

NYSE:XOM   EXXON MOBIL CORP
43 0 4
A clear 5 waves up in a wave (C), greatly reducing the probability for a WXY(XZ) pattern (double/triple zzag).
A very strong leg down in 2016 Summer conservatively labeled wave a down.
Big momentum shift to the down side putting RSI clearly into bearish oscillation.
Followed by a double top resistance at RSI 60, the top of a normal bearish oscillation range.

I look for the 2014-2015 move to repeat in proportion into 2019
with plenty of pullback opportunities to short into.

Truth is what happens in the real world; not necessarily words from a book.
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