Exxon Mobil Corp., Elliott Wave Technical Analysis

Unsplash

Exxon Mobil Corp., (XOM): 4H Chart, Tuesday, Oct. 24

XOM Stock Market Analysis: We have been anticipating a three wave move into wave 2 which we seem to have got right. At this point as we have broken previous wave {b} top we can start looking at the move up as trend establishing.  

XOM Elliott Wave Count: Wave (i) of {i}.  

XOM Technical Indicators: Below all averages.

XOM Trading Strategy: Looking for longs into wave (iii).

TradingLounge Analyst: Alessio Barretta
 

Exxon Mobil Corp.,   XOM: 1-hour Chart, Tuesday, Oct. 24

Exxon Mobil Corp., Elliott Wave Technical Analysis
XOM Stock Market Analysis: Looking for another leg up into wave b of (ii) as we seem to have had one direction wave only in wave (ii). Therefore looking for continuation lower with invalidation at 104.8$.  

XOM Elliott Wave count:  Wave b of (ii).

XOM Technical Indicators: Below all averages.

XOM Trading Strategy: Looking longs after wave c of (ii).​​​

More By This Author:

Elliott Wave Technical Analysis: VETUSD - Tuesday, Oct. 24
Elliott Wave Technical Analysis: Pepsico, Monday, Oct. 23
Day Chart Elliott Wave Technical Analysis: British Pound/Japanese Yen, Monday, Oct. 23