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Exxon Mobil
Short

XOM - Trend Breaking Down

Di dRends35
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XOM trend breaking down here. Having tagged long term resistance price appears to have formed an initial collapsing structure that could signal the start of a bearish trend . Volume decreasing and bearish divergence also. Might open a little short on this if price bounces to recent 0.618 / 0.786 of the local sell off for good RR. Looking for an easy no heroics trade back to 0.5/ 0.618 retracement $45 POC support area . Will exit if price drifts above resistance.
Nota
istantanea
Nota
Price did slump although it did not present a shorting opportunity and long term resistance was the top.

I don't think price can get past resistance now, so if it did drift back up then I would short in that area.

istantanea
Trend Analysis
dRends35
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