XOM is back to 100$, last time being there when crude was above 110$ a barrel. A great short covering, along with confluence of multiple trend lines makes this a great short opportunity.
Kommentar:
Congrats. We are well in the money. My first target is 94$, second target is the green trend line around 87$. You are responsible for your own position risk management.
Trade ist aktiv:
I will be adding to the shorts at 115$ due to confluence of multiple resistances as shown below.
Kommentar:
To show how big of a resistance the redline is, here is the monthly chart of XOM. Look at how vertical the move has been from 84$ to 110$ already. It's a no brainer IMO.
