My preferred count for $XOM is a very bullish one and needs an upside break in order to be validated.
That moment may be at hand. The price action is nosing its way out of its bullish wedge and I expect to see a break to the orange target box above us.
[UPDATE]: Though the count will need some adjustment, since we’ve come to the orange box, which was my target, I will file this call under “Successful Calls.” I will need to monitor this for a bit before I can settle on a new count, so I make no new call on this for the time being.
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Playing this with a diagonal-turned-vertical call spread
BOT 10/8 56c
SOLD 9/24 58c (will roll forward each expiry)