Good Afternoon Fools:
It seems to me that we could see the fifth attempt from 5th months in a raw now, to break XOM´s lateral pattern, and it could be the definitive one, due oversold conditions, right now. Summer driving season is near, and with a fresh cheap oil, drivers could drive more miles without making a hole in their pockets. Exxon Mobil´s Chemical & downstream business will get some boost from cheap oil improving their Utilization Rate in refineries.
Today´s techical view of XOM on daily graphs is a Bottom &Reversal if confirmed with higher prices next day, from support level, (MA 200 sessions), with crossing Stockastics in the low band, that could lead to a nice Upward reversal to break up resistance
Regards. Have a nice day