XOM - Trade-able Pattern

Written by MrStockFox. Posted in Trade Ideas

Looks like XOM, or for that matter, the entire oil sector is possibly setting up for a nice rally.  A breakout to the upside of this triangle and we could test the horizontal targets shown on the chart.  T1 comes in about 79.50 and T2 comes in around 83.  This could be the bottom but we wont know for sure until the downtrend is broken.  I am personally buying at these levels for my longer term core position. I am long XOM

 
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