• A Rising Wedge should have concluded a Double Zig Zag from the March low

  • The MACD has a bearish cross and it is displaying a negative divergence
  • Today we have a reversal candlestick (Shooting Star) after having achieved a marginal higher high
  • If the support at 83.16 is breached I expect an initial target T1 in the range 79.60 (Gap fill) – 79.30 (200 dma)
  • If the 200 does not hold the next target T2 = 77.86

 

XOM DAILY CHART

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