My last call on $XOM was here and that certainly worked out. I believe it may now be completing an impulse wave here and I expect it to retrace. It may go as low as the orange box beneath us in three waves but should remain above the August low.

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.

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