Stocks

Exxon Mobil Is On The Way Higher As AnticipatedMar 29, 2024

Exxon Mobil is on the way higher after we spotted a completed correction within uptrend by Elliott wave theory.

We talked about Exxon Mobil with ticker XOM back in December of 2023 in which 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 HERE

Exxon Mobil Is On The Way Higher As Anticipated XOM Daily Chart
XOM Daily Chart

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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