XOM - Bearish
Monthly candle chart...
MA Cross (9 month, 21 month) is about to make a cross. So unless there is an immediate reversal of the price trend, then we will have a bearish cross. This indicator has been historically extremely accurate when determining further downside.
The large ascending wedge pattern (bearish) had a bearish breakdown a while ago.
Monthly TSI crossed recently and is actually close to going negative.
Before this is over, I suspect we see 75-81.
MA Cross (9 month, 21 month) is about to make a cross. So unless there is an immediate reversal of the price trend, then we will have a bearish cross. This indicator has been historically extremely accurate when determining further downside.
The large ascending wedge pattern (bearish) had a bearish breakdown a while ago.
Monthly TSI crossed recently and is actually close to going negative.
Before this is over, I suspect we see 75-81.
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