XOM at a Pivotal Zone! Will Bulls Take Control?Technical Analysis (TA) Overview:
📌 Price Action: XOM is testing a key reversal zone, showing strong buying pressure after breaking out from a descending trendline. The price is now consolidating near resistance.
📌 Support & Resistance:
Resistance Levels: $112.87 (Major Resistance), $115 (Call Wall)
Support Levels: $109 (High Volume Node), $108 (Put Wall)
📌 Indicators:
MACD: Bullish momentum building, but still in a weak positive zone.
Stoch RSI: Overbought levels (95+), suggesting a potential short-term pullback before continuation.
📌 Volume Profile:
High liquidity around $111-$112, indicating a potential battle between buyers and sellers.
GEX (Options Analysis) - Key Insights:
📌 Gamma Exposure (GEX): Positive GEX at higher levels suggests dealers may hedge by selling, acting as resistance.
📌 Call Walls (Resistance Levels):
$112-$115 (Highest positive GEX zone) → Likely resistance, where price action might slow down.
$120 (Extreme Call Wall) → If momentum sustains, this could be a long-term target.
📌 Put Support Levels:
$109-$108 → Strong support, if broken, could trigger a sell-off to $105 (next put support).
📌 Options Sentiment:
IV Rank (IVR): 32.7 → Moderate implied volatility, options not overly expensive.
Calls 11.3% → Mild bullish positioning in the options market.
Potential Trade Setups:
✅ Bullish Scenario: If XOM holds above $111, a breakout toward $115+ is possible.
❌ Bearish Scenario: Failure to hold $109 could send XOM back to $105-$106.
💡 Suggestion: Watch for a retest of $109 as support before a breakout move!
📌 Final Thoughts:
Short-term traders: Look for confirmation above $111 for a quick move to $115.
Swing traders: Ideal entry on a pullback to $109-$110, targeting $115+.
Options traders: A breakout over $112 with rising call positioning could fuel momentum.
📢 This analysis is for educational purposes only and does not constitute financial advice. Always do your own research before making trading decisions! 🚀
