Exxon Mobil Corp.(XOM) Elliott Wave technical analysis [Video]

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}.