Stocks

Exxon Mobil Looks Attractive For 2024Dec 22, 2023

Exxon Mobil Looks Attractive For 2024, as we see it finishing a larger flat correction from Elliott wave perspective.

Exxon Mobil with ticker XOM has been consolidating in the past year, but it may now have a completed larger (A)-(B)-(C) irregular flat correction in wave 4 and it can be looking for a rally back to highs for wave 5 in 2024.

Exxon Mobil Looks Attractive For 2024 XOM Daily Chart
XOM Daily Chart

We know that Exxon Mobile is an oil company, so at the same time it can lift Crude oil higher away from the support, especially now that is trying to break channel resistance line. Minimum three wave recovery is expected and at least back to 80 – 90 area, if not even back to 100 resistance area.

Exxon Mobil Looks Attractive For 2024 CRUDE OIL Daily Chart
CRUDE OIL Daily Chart

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