Oil Bitcoin XOM1.9.24 I'm sorry for my problem with speech on this video. It's a neurologic thing and it gets worse as I get older. But you'll get the gist of it If you focus on how markets expand and contract... and you are able to make the distinction between arranging market and a trending market. Bitcoin is in an expanding market and yet you could have traded it as a ranging market for months... but these last breakouts higher are showing differences that are easy to see if you step back and look at the chart. If you're too narrow in the way that you analyze markets you might think that you're missing the big moves because you might not have gotten the long trade this week in Bitcoin.... so if you think about the market in the last two or three trading days you feel that you're too late. On the other hand for the past few months you could have traded the range and you could have gotten out make it a profit without having the market reverse and take away your profit..... and you know where the virus and sellers are if it's a range box. If you never look for range boxes you never see boxes.... never see boxes you never think in terms of where the buyers and sellers are. you might say why I don't need boxes I can see where the bars and sellers are.... but that box is associated with a range and that range represents a certain amount of money... and all you have to do is take a glance at that box and you will know how viable that box is to trade. On XOM.... that Has a trending Behavior going higher but it is trading in a range. Generally speaking.... for me.... arranging market much differently than a trending market. For me..... arranging market is arranging Market Until It Breaks significantly higher or lower. My favorite market is a trending market going lower.... it is oversold... and it is come to support and is finding buyers. If I have arranging market with sufficient distance between the buyers and sellers... that means I can find a market that gives me a certain return because of its vertical range... I'm willing to trade that and I know where my targets are and I know where my stops are. The kinetics of arranging market are much different than a trending market. If there's a trending Market I'm looking for a reversal... and most people will be afraid of this... but when it works it makes a lot of money... but keep your stops small. If you trade arranging market as if it were a trending market you will lose money. I am not talking to you I am talking to me.
Trade ideas
XOM1.8.24 XOM was a little tricky today because it gapped lower on the open. If you had a small stop you would have been stopped out most likely... but the market closed the gap where they were buyers and it didn't make a new low... and once it made it slow for the day it went significantly higher to suggest that the market has a chance of making a new high. Unfortunately, I ran out of time so I will finish this video tomorrow. I ran out of time because I wanted to show how I would look at transitions in the market when it was moving higher and then it started to range. We could see this on a monthly chart... and we could have used ABCD patterns to help us etc.....
Exxon Mobil to target 111.6 after crossing resistance line1-hour chart, the stock is trying to beat the resistance, but still does not have enough bullish power.
However, it seams it will rebound soon,and after crossing the resistance (blue line) around 104.7, the target will be 111.6 - A rising wedge chart pattern.
Below support A, the next down target will be support B line.
RSI is positive
Energy Stocks: Macro Fib SchematicsThis idea beholds 6 of the largest Energy companies in the world.
(Shell, Chevron, Exxon, BP, Duke, and OXY Petroleum.)
These macro schematics have been crafted through meticulous Fibonacci techniques.
I've laid every one on a 3 month timeframe starting at 1988. History buffs will understand the time reference to the rough "start" of Middle Eastern conflicts from the West and the rise of the price of "fossil fuels".
I'm not begging anyone to understand this genius mastery of Fib tools. You either see it or you don't.
I've linked my ENERGY COMMODITIES idea below for more analysis.
BEARISH OIL WILL IMPACT EXXONAccording to Tom McClellan, Oil follows Gold with a 18-20 months and so he forecasts a low for May 2024.
Gavekal IS Research has formally uncovered this lag though without issuing a strategic forecast.
The logic is that Gold "stores" the future price of energy
It is very easy to see that a 5 Wave pattern has occurred and is currently being followed by a rectangular ABC pattern. Supports are being broken, suggesting that the 1st Wave of a 5 Wave bearing pattern is unfolding.
The target is below 65, a major support/resistance line
A Gann target would be around 60 or 1/2 of the top at 120
EXXON MOBIL: Strong buy at the bottom of a 1 year Rectangle.XOM has been trading inside a Rectangle pattern since the October 11th 2022 low and just last week the 1D RSI got oversold below 30.000. Now the 1D technical outlook is neutral (RSI = 46.595, MACD = -1.790, ADX = 43.208) but that oversold level was the first buy signal as it took place very close to the Rectangle's bottom.
The second and final validation buy signal will be when the stock closes a 1D candle over the LH trendline. Yesterday it crossed over it but closed on it. We will take this opportunity to target the 0.786 Fibonacci level (TP = 115.00) as this was the minimum target that the previous three rallies hit.
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Bullish IdeaThis idea is for a short options swing trade:
* All of energy did well today, not just XOM
* XLE up around 1.02% at present time
* Unusual high volume in the premarket this morning
* This got me to thinking it's being accumulated
* Nothing much happened during the day, but for the power hour there are some nice confluences
* Channel Break, though I would like to see more volume so monitoring some more
* Bullish Inverse H&S pattern
* VWAP suggests buyers are supporting stock
That's pretty much it. This has been in a heavy down trend for quite some time and is finally showing possible signs of reversal. The big question is: Is this accumulation?
Possible Reward: 1.50 — 3.00
ExxonMobil LONGExxonMobil has announced its project spending and oil output forecast for the period of 2022-2027. The company plans to spend between $22 billion and $27 billion annually, with a target of producing 3.8 million barrels of oil equivalent per day in 2024. The forecast does not include the gains from the acquisition of Pioneer Natural Resources, which is expected to close next year. The company plans to increase its share buybacks to $20 billion annually through 2025 and continue its ongoing divestment plan for its refining operations. The forecast is watched closely by investors for its spending and production targets.
XOM 3d ChartPublishing the Exxon 3d chart to track this as it heads to an important volume zone.
The entirety of the oil sector has been weak over the last few months and this is likely a guide on the overall market.
If this cannot bounce in the next -3-5% zone (highlighted), I can see this heading towards the 80-90 range in the next few months.
Previous USO idea:
Depending on how oil and oil related stocks move, this could have greater impact on the overall market, keep an eye on XLE and XOP.
XOM is likely to hold support and make a bullish reversal.Shares of oil and gas companies gain tracking a rise in oil prices.
But, there is more to support Exxon's reversal.
EXXON is to release additional details about its corporate plans, Including Its Capital Plans to 2027, on December 6th.
Its plans to become one of the world's top producers of the metal used to make electric vehicle (EV) batteries can be a trigger for long term bullish price action.
Short term technical overview also looks optimistic.
Cycle Sniper Daily indicates a potential bullish reversal from an oversold region after the stock holds 100$ - 97$ support.
Technically:
Cycle Sniper Daily indicates a bullish reversal from an oversold region after the stock holds 100$ - 97$ support.
After a daily closing above 107$, our targets are 110$, 113$, 118$, and 126$ until the end of Q1 2024.
Good Luck
Exxon Mobil Shares Rise, Making Three-Day Winning StreakExxon Mobil Corp. (NYSE:XOM) saw its shares climb by 0.39% to close at $104.29, contributing to an overall upbeat day on Wall Street as both the S&P 500 Index (SPX) and the Dow Jones Industrial Average (DJIA) experienced significant gains. The S&P 500 surged by 1.91% while the Dow Jones increased by 1.43%, reflecting a positive sentiment among investors.
The rise in Exxon Mobil's stock price marked the end of a three-day winning streak for the oil and gas giant, which is still trading $16.41 below its year-high of $120.70 reached on September 28th. Despite this, the company's recent performance has been commendable, especially considering the robust advertisement campaign it has been running.
The trading volume for Exxon Mobil on Tuesday was recorded at 18.2 million shares, falling short of its average by 1.7 million. This lighter trading volume did not seem to hinder the stock's upward movement during the session.
Investors are keeping a close eye on Exxon Mobil's performance as it navigates through market fluctuations and continues to engage with its audience through strategic advertising efforts. The company's stock movement is part of a broader trend in the energy sector and reflects ongoing changes in global energy markets.
Insights
Exxon Mobil Corp. is a notable player in the Oil, Gas & Consumable Fuels industry, with a significant market capitalization of $413.29B USD. The company's stock is known for its low price volatility, making it a potentially stable investment option.
$XOM Quick Short - (QT)Howdy Traders!
In this quick trade (QT), we will look at this short on $XOM. It has came down from the previous $104.50 - $104.80 range, and has used it as a resistance. The move for NYSE:XOM is to come down to the previous largely used support level of $100.50. It might bounce up from this level, or it might just fall right through to the $97 level.
Buena Suerte (Good Luck)!
ExxonMobil Fortifies Low Carbon Solutions With $4.9 BillionExxon Mobil Corporation (NYSE:XOM) has completed a $4.9 billion all-stock transaction with Denbury Inc., marking a significant step forward for its Low Carbon Solutions business, according to CEO Darren Woods. The deal, valued at $89.45 per share, involved an exchange of 0.84 ExxonMobil shares for each Denbury share.
The acquisition integrates ExxonMobil's expertise with Denbury’s extensive CO2 pipeline network and workforce, thereby enhancing their low-carbon leadership and capacity to address industrial decarbonization, as well as reducing their own emissions. ExxonMobil now controls the largest CO2 pipeline network in the U.S., spanning over 1,300 miles, including 925 miles across Louisiana, Texas, and Mississippi - the largest U.S. markets for CO2 emissions.
In addition to the pipeline network, the deal incorporated over 15 onshore CO2 storage sites into ExxonMobil's portfolio. These assets are expected to play a significant role in the company's efforts towards reducing CO2 emissions by over 100 million metric tons annually.
The acquisition also includes Gulf Coast and Rocky Mountain oil and gas operations, which provide immediate operating cash flow and offer additional options for carbon capture operations. As of 2022, these operations held over 200 million barrels of proven oil equivalent reserves and were producing approximately 46,000 oil-equivalent barrels daily.
Price Momentum
XOM is trading in the middle of its 52-week range and below its 200-day simple moving average.
Investors are still evaluating the share price, but the stock still appears to have some downward momentum. Posing minimal risk.
Bullish on XOM.
As you can see here, I drew support and resistance levels based on the weekly chart. But on the daily chart, we are forming a double-bottom pattern. I am looking very bullish on XOM. Now, I am waiting for a strong heikin ashi candlestick with no bottom wick and with substantial amount of volume. Thank you for reading my analysis.
EXXON MOBIL: Another choppy month. Rally near Christmas.Exxon Mobil got rejected last Friday on the 1D MA200 and after the 1D MA50 rejection the week before, enters a dangerous territory of LL until it forms the bottom. The long term pattern is a Channel Up, who's rebounds and rejections are accuretelly depicted by the Fibonacci levels. Naturall the 1D timeframe is bearish (RSI = 36.689, MACD = 2.316, ADX = 38.647) and until we see HLows on the 1D RSI, we are not willing to turn bullish long term. We expect the rally to start close to Christmas, aiming at the top of the Channel (TP = 122.00).
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