This 
XOM chart is looking really solid for a potential bounce! Here’s why:
Strong Support:
The price has pulled back to a key area near the 50% and 61.8% Fibonacci retracement levels. These levels often act as a strong base for a reversal.
Trendline Holding:
There’s a long-term upward trendline right under the current price, adding extra support.
Oversold Indicators:
The Stochastic Oscillator is deeply oversold, meaning it could be ready to turn up.
The RSI is showing bullish divergence – the price made lower lows, but the RSI made higher lows. That’s often a great sign of a potential reversal.
Momentum Shifting:
The MACD is still negative, but it looks like it’s starting to lose steam. A crossover could be on the way.
Potential Play:
If this holds, we could see a bounce back to $113-$116 in the short term. Watch this one closely, and as always, have a stop-loss plan in case it breaks below support.
This setup looks like a great opportunity to me. What do you think?
XOM chart is looking really solid for a potential bounce! Here’s why:Strong Support:
The price has pulled back to a key area near the 50% and 61.8% Fibonacci retracement levels. These levels often act as a strong base for a reversal.
Trendline Holding:
There’s a long-term upward trendline right under the current price, adding extra support.
Oversold Indicators:
The Stochastic Oscillator is deeply oversold, meaning it could be ready to turn up.
The RSI is showing bullish divergence – the price made lower lows, but the RSI made higher lows. That’s often a great sign of a potential reversal.
Momentum Shifting:
The MACD is still negative, but it looks like it’s starting to lose steam. A crossover could be on the way.
Potential Play:
If this holds, we could see a bounce back to $113-$116 in the short term. Watch this one closely, and as always, have a stop-loss plan in case it breaks below support.
This setup looks like a great opportunity to me. What do you think?
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Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.