Exxon Mobil Has A Long Way Up
Nov 25, 2022


Exxon Mobil has a long way up, as we see it trading in a strong five-wave bullish impulse from Elliott wave perspective.

Exxon Mobil with ticker XOM is one of the best single stocks in the last two years due to bullish Crude oil. And, despite current slow down in the oil market, XOM is still on the rise due to stock market recovery in current risk-on sentiment.

Exxon Mobil Has A Long Way Up Daily Chart
XOM Daily Chart

Well, we believe that XOM may face even more gains within an extended wave (5) of 3 up to 130-140 area, especially if Crude oil is about to find a temporary support, as we see it finishing a leading diagonal into wave A from the highs. So, what we think is that Crude oil may now face a corrective recovery in wave B, while XOM can extend its rally within higher degree wave (5) of 3.

Gold miners show first bullish evidence. Check our article HERE


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.