Details: Looking for a clear five wave move into Minor wave 1. We are finding support on top of TL 100$, which gives us additional confidence to look for further upside.

XOM Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Zigzag .

Position: Wave (c) of {ii}.

Direction: Bottoming in wave (c).

Details: Looking for further downside into wave (c) to complete Minute wave {ii}. Looking to find support on top of 100$ as long as we have a clear three wave move in wave {ii}.

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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