XOM Long but not for long

Jun 18, 2020

XOM

The post Corona-Crash regression is approaching the downward dip trend of past year. The intersection will coincide with the earnings so at the earnings we could see a break downwards.

But until then we might see 1 or 2 tests of the 54.20 resistance. Depending on market conditions. 54.20 was also the max of the dead cat bounce during the crash and is also close to the level of the shoulder of the last peak of Jun 20.

(this is merely a guess, it is not financial advice, etc...)