Exxon Mobil (XOM) shows incomplete bearish sequence from 6.8.2022 high looking for further downside. The decline from 6.8.2022 high is unfolding as a zigzag Elliott Wave structure. Down from 6.8.2022 high, wave (A) ended at 83.52 and rally in wave (B) ended at 93.24. The stock has resumed lower and broken below wave (A) suggesting the next leg lower wave (C) has...
Once the trendline breaks (and I think very soon) we should come back to retest it and then head down to the 70 dollar area by end of summer. This would create the potential for a larger head and shoulders pattern to play out into 2023.
Legendary investor Warren Buffet is pouring billions of dollars into Occidental Petroleum Corporation ! when it rejected heavily from strong and valid down trend line ! why ? Please note Buffett is a long term investor not a trader !. US market has been in a Bull run in large time frames (Yearly or Monthly) since 1932 therefore, any long term investor who...
Update on previous charts, no difference, but this 3rd wave down should be a strong one to catch. USOIL should bottom after the markets do, probably after CPI on July 13. A=C gets you to the mid 80's
$XOM seems to be creating head and shoulders pattern. Imo the move for energies has been done, at least for a while. The previous support now acts like a resistance, and it failed to hold above 91.20 yesterday. I would be careful as it might be a change of trend and also could be wave 3 out of 5 on the way down. Still LT trend is bullish. We shall see if the 100MA...
$XOM Analysis, Key levels & Targets By request… and thank you because I will play this one… Some of you know that I'm originally an energy sector trader... don't enter this trade unless you know the riskes... and have fun... —- I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my...
50 MA which acted as a previous strong support might now become a resistance. I'd be careful with energy stocks in the near term.
Going into next week we could see this push back to 100$. If this fails to break above 88 we will keep the downtrend to 70$
Usoil may have peaked for at least a few months. Any higher than 124 and I'm wrong, but very few people are thinking we are about to embark on a C wave down. If this is true Oil will start to underperform the SPX.
XOM is beautifully formed a classic cup and handle pattern. So far, we have break out , pull back and only remaining point to safe entry is a bullish candle above 92.05. First target which was obtained by adding the depth of cup ( shown as H on the chart ) to the break out line is 104-105 USD. Please note the crude oil trend is also up therefore , it is...
@KioseffTrading RSI Optimizer being used & is showing a long entry signal at best performing RSI Crossover.
Crude Oil, Gasoline, and energy stocks are breaking out. These are the charts and trends we are watching most closely to confirm this breakout.
Xom in now in an up trend, let's make sure we don't break 91.64, with the oil prices going up the results will be amazing
Target: 109, SL: Below 80. Old economy is back! Oil in strength.
My goal is to try to make traders and investor THINK DIFFERENTLY about markets. I believe as humans we seek validation, comfort in affirming our beliefs, and that manifests in the wild swings of the market when the narrative is proven wrong. Back in January 2021 I made an uncomfortable bet on Exxon NYSE:XOM . It was uncomfortable at the time because the...
XOM has a high probability to test its recent highs. I feel the May 20, 2022 87.5 calls seem cheap, 20% and I'm booking half and letting the rest ride. I am no pro but typically summer months cause oil to rise anyways. We shall see!
XOM is super strong. I use my favorite tool, the pitchfork, to apply projections of price, filtering, find entries, exits etc. What many pitchfork traders don't understand is, that they can't just apply this tool to the chart. I see many doing it wrong anyways, which has to do with identifying the correct pivot/swing/pendulum swing points, and not being aware of...
The Macro trends of 2022 are no secret to any of us. Sky rocketing inflation and the war in Ukraine have lead to soaring energy costs around the world. As a result, Oil has seen a period of extreme volatility, reaching a high of closing high price of 129.44 on March 8th. As a result, the XLE has followed suit and is up about +30% year to date. Exxon, the largest...