We talked about Exxon Mobil (XOM) back in December of 2023 where we mentioned and highlighted strong support within an (A)-(B)-(C) irregular flat correction for wave 4. We also shared an article along with Crude oil, where we warned about a recovery into projected 80-90 zone, maybe even 100 area, as Exxon Mobil has still space for more gains towards new all-time highs.
(Click on image to enlarge)
As you can see today after three months, Exxon Mobil is in strong rally away from projected support for wave 4. So, wave 5 can be now in progress, which should be completed by a five-wave cycle of the lower degree, thus it can easily send the price towards all-time highs, just be aware of subwave (4) pullback. At the same time Crude oil could be headed to 85-90, maybe even 100 area.
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