Emerging Rising Wedge pattern in its final wave was identified on the XOM 15 Minutes chart. After a strong bullish run, we find XOM heading towards the upper triangle line with a possible resistance at 120.7314. If the resistance shows to hold, the Rising Wedge pattern suggests a rebound back towards current levels.
A Rising Wedge has formed, XOM is approaching support. Can we expect a breakout and the start of a new trend or a reversal?
