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}. 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 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: Anticipating further upside in wave {v} as a three-wave corrective move in wave {iv} appears complete.
In our detailed Elliott Wave analysis of Exxon Mobil Inc. (XOM), we observe an impulsive trend marked by a motive structure. XOM is currently positioned in wave {v}, indicating continued upward movement. The completion of a three-wave corrective move in wave {iv} sets the stage for further bullish momentum. Traders should monitor this wave closely for ongoing bullish developments.
XOM Elliott Wave Analysis - Trading Lounge 4Hr Chart
Exxon Mobil Inc. (XOM) 4Hr Chart Analysis
XOM Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (i) of {v}
Direction: Upside in wave (i) of {v}
Details: Anticipating a rise into wave (i) to surpass the top of wave (b) at $120, providing further confirmation of the upside.
On the 4-hour chart, XOM is tracking an impulsive trend within a motive structure, specifically in wave (i) of {v}. Our analysis indicates a potential upside move into wave (i) of {v}, with the critical level being the top of wave (b) at $120. Breaking this level would confirm additional upside. Traders should be ready for potential long positions as this bullish scenario develops.
Technical Analyst: Alessio Barretta
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