This is the weekly chart of XOM, where a bearish divergence has been going on for some time.
Finally the daily chart gives us something to trade, a bearish divergence, with a false breakout, confirmed by a long day.
Price broke down the local support at 103.50$, and it's heading for the 100 level. Below this level, I expect anywhere from 95 to 97$. If I see a buying signal at 100$, I'm going to close part of the position, if not, I'm holding for at least 97$. Stop above 105$
Finally the daily chart gives us something to trade, a bearish divergence, with a false breakout, confirmed by a long day.
Price broke down the local support at 103.50$, and it's heading for the 100 level. Below this level, I expect anywhere from 95 to 97$. If I see a buying signal at 100$, I'm going to close part of the position, if not, I'm holding for at least 97$. Stop above 105$