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XOM Earnings Tuesday Morning Will Tell Us Much About the Health of XLE

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    If my analysis proves reasonably accurate, then Exxon Mobil Corporation (XOM) established a significant low at 66.55 on Aug 24, and rallied to 87.43 (Nov 3) to end its first recovery upleg. All of the action since the Nov high into the Jan 20 low at 71.55 represented a completed "intervening" pullback within an incomplete larger, medium-term recovery period. My near-term pattern and momentum work suggest strongly that XOM is poised for upside continuation in reaction to earnings (reported

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