XOM - Inverse Head & Shoulders?

On the weekly chart we have a breakout from what sure looks like an inverse head & shoulders pattern on XOM (Exxon Mobil).

Volume is questionable since it was actually declining leading up to the breakout rather than increasing.

If this is a valid pattern we can expect to reach the 92.00 level, last seen in December 2016. If not, then price may very well bounce off of the upper trend line and continue to coil.


Divergence Software, Inc.
www.sr-analyst.com
support@sr-analyst.com
Contact Us/Subscribe
at
Tags: , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Latest Post

Harmonic Pattern Collection Lifetime Package

If you are currently a Harmonic Pattern Collection monthly subscriber, consider upgrading to outright purchase of the Harmonic Pat...

Most Popular

  • Spring Sale - 2020
    Indicators for TradingView You can view the full list of the indicators we have available for TradingView here . Until April 30, 2020 i...
  • Harmonic Pattern Collection Lifetime Package
    If you are currently a Harmonic Pattern Collection monthly subscriber, consider upgrading to outright purchase of the Harmonic Pat...
  • Triangle Pattern for TradingView
    Finding a relatively safe, simple, and reliable mechanism to trade the markets day in and day out is not easy. There are a lot of "...