Photo by Timothy Newman on Unsplash
 

XOM Elliott Wave Analysis Trading Lounge Daily Chart,

Exxon Mobil Inc., (XOM) Daily Chart

XOM Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave {v}.

DIRECTION: Upside in {v}.

DETAILS: Looking for upside in wave {v} as we seem to have completed a three wave move in wave {iv}.

XOM Elliott Wave Analysis Trading Lounge 4Hr Chart,

Exxon Mobil Inc., (XOM) 4Hr Chart

XOM Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave (i) of {v}.

DIRECTION: Upside in wave (i) of {v}.

DETAILS: Looking for upside into wave (i) to take out the top of wave (b) at 120$ to give us additional upside confirmation.  

In our Elliott Wave analysis of Exxon Mobil Inc. (XOM), we observe an impulsive trend characterized by a motive structure. XOM is currently positioned in wave {v}, indicating an upside movement in wave {v}. It appears that a three-wave corrective move in wave {iv} has been completed, setting the stage for further upward momentum. Traders should monitor this wave closely for continued bullish developments.

* XOM Elliott Wave Technical Analysis – Daily Chart*

In our Elliott Wave analysis of Exxon Mobil Inc. (XOM), we observe an impulsive trend characterized by a motive structure. XOM is currently positioned in wave {v}, indicating an upside movement in wave {v}. It appears that a three-wave corrective move in wave {iv} has been completed, setting the stage for further upward momentum. Traders should monitor this wave closely for continued bullish developments.

* XOM Elliott Wave Technical Analysis – 4Hr Chart*

On the 4-hour chart, XOM is following an impulsive trend within a motive structure, specifically in wave (i) of {v}. The current analysis shows a potential upside movement into wave (i) of {v}, with the key level to watch being the top of wave (b) at $120. Breaking this level would provide additional confirmation of further upside. Traders should be prepared for potential long positions as this bullish scenario unfolds.

Technical Analyst : Alessio Barretta

More By This Author:

Unlocking ASX Trading Success: Rio Tinto Limited
Elliott Wave Technical Analysis: Dow Jones Index
Elliott Wave Technical Analysis: Australian Dollar/U.S. Dollar - Monday, June 3