XOM: Massive Bull-Flag-Formation, Targets to be Confirmed!Hello Community,
welcome to my update analysis about XOM. As I already mentioned before, XOM was and is trading in a consecutive uptrend in which higher levels are highly likely to be reached. Right now, I have spotted further signs that have the potential to lead to a great trading opportunity for XOM.
When looking at my chart, we can see how XOM is trading within this continuous ascending trend channel. Within this channel, XOM has major support at the lower boundary, where it has already bounced several times.
Now, XOM is also forming this major triangle formation with the bullish support within the 50-MA. Bouncing off this MA will confirm further bullish continuations towards the upside. Once XOM breaks out above the upper boundary, this will activate the final target zones seen in my chart.
In this manner, thank you a lot for watching!
The support is highly appreciated.
VP 
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Crude Oil and Exxon Mobil at Key Resistance as Bearish Patterns After the sharp rally toward 119 in early March, crude oil has spent the past several weeks in a corrective phase, and current price action may now be signaling the next major move lower. As previously discussed, the initial decline from the March highs unfolded in a strong impulsive structure for wave A, followed by a three-wave corrective rebound that reached the 118.55 resistance area. Although the market experienced an aggressive sell-off during the first half of April, prices managed to stabilize around the 82 region, where several additional swings have since developed.
From an Elliott Wave perspective, the structure increasingly resembles a bearish triangle formation within wave B. Importantly, all five internal legs, labeled a-b-c-d-e, can now potentially be counted, suggesting that the correction may be approaching completion. In addition, the latest 24-hour price action has delivered another strong sell-off, reinforcing the idea that the energy sector could be preparing for another temporary move lower, likely toward the lower boundary of the broader triangle range. From a technical standpoint, we still believe that the unfilled gaps near 87 and 67 remain important downside targets that could eventually be revisited.
A very similar technical setup can also be observed on Exxon Mobil Corporation (XOM). The stock experienced a sharp and impulsive decline, followed by an ABC corrective recovery that pushed directly into a major GAP resistance zone near the 164 level. From this area, Exxon Mobil may now be vulnerable to renewed downside pressure, especially if crude oil continues to weaken. The correlation between crude oil and energy equities remains strong, and if the bearish triangle scenario on oil is confirmed by a broken trendline support then Exxon Mobil could follow with a continuation lower as well.
It is also worth monitoring geopolitical developments, particularly ongoing discussions surrounding a potential agreement between the United States and Iran. Former President Donald Trump has repeatedly suggested that negotiations may be nearing completion. Any progress toward a deal could increase expectations of additional oil supply entering global markets, which may further pressure crude oil prices and energy-related stocks in the near term.
GH XOM: Winners of the Venezuelan Oil-Poker!Hello There,
in the past days we have witnessed spectacular events that will be historically determining for the oil market and oil company stocks. One of the largest oil reserves country Venezuela changed from a socialist government to a state under U.S. influence. Since the government changed the plan is that oil companies can take up their business again, which was not possible before. As Venezuela has one of the largest oil reserves, this could mean massive changes for those companies.
One of those companies is ExxonMobil (XOM). The company already had big plans to expand their oil production before 2007. Since 1999, the Venezuelan government has begun expropriating private businesses and, in the majority, oil companies. This also led to the seizure of ExxonMobil in 2007, where thousands of millions of barrels of oil were expropriated into government control. The company has had no ability to get their reserves and continue their businesses in Venezuela since then.
As a government change happens in Venezuela, this will create major bullish foundations for XOM. The price already gained over 300% in a continuous uptrend since the corona pandemic in 2020. A potential continuation of their business will likely expand their revenues by up to 40% more. Such factors will have tremendous effects on the price action. As seen in my chart, XOM will likely complete this gigantic bull flag in the next time.
Already before this major event, XOM could complete this gigantic broadening wedge formation. The targets of this formation were already confirmed by the breakout. Now the bull flag formation forming above the upper boundary offers the next double confirmational formation. From this point of view this creates a fundamentally and technically bullish perspective for XOM. The targets marked in my chart are already active. When there are massive news in the oil industry there is a high likelihood for major price moves.
With this being said, it is great to consider the important trades upcoming.
We will watch out for the main market evolutions.
Thank you very much for watching! Long 
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XOM Near Record Highs as Bulls Eye a Fresh BreakoutHello, traders!
Momentum remains firmly with the upside
Exxon Mobil is still trading in a strong bullish trend, with the daily structure showing repeated breaks higher and only shallow pullbacks so far. The broader backdrop also supports that strength, as rising energy prices and improving LNG execution continue to reinforce the market’s confidence in XOM. On the chart, the stock remains well above its major moving averages, with price holding the bullish alignment of Price > MA20 > MA60 > MA120. That keeps the primary path pointed higher while the stock stays above its key trend support.
The short-term map is clear
Immediate support sits at $158.71, which lines up with the MA20 and a prior breakout area, while the near-term resistance zone stands at $178.00 near the upper boundary of the ascending channel. The key trigger on the upside is a daily close above $174.50, which would confirm continuation and open the way toward $178.00 first, then $180-$185, with $187.50 as an extended objective. As long as price remains inside this rising channel, the trend still favors buyers on dips rather than sellers into strength.
The alternative path matters here
If XOM fails to hold the channel and closes below $164.00, the bullish structure starts to weaken and the move likely shifts into a deeper correction. A break under $158.71 would strengthen that view further and expose the next downside area near $150, with $148.00 and the MA60 at $146.39 becoming more relevant. For now, though, the bigger picture stays constructive. Bulls remain in control unless price loses those supports decisively, and the market still looks positioned for another attempt higher before any larger trend reversal is in play. Long 
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