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XOM Elliott Wave technical analysis
Function: Trend.
Mode: Impulse.
Structure: Motive.
Position: Minute wave {ii} of 1.
Direction: Bottom in wave {ii}.
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}.