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XOM Ascending Triangle Pattern
Friday, October 5, 2012 8:30
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XOM has formed a ascending triangle pattern over the last two weeks. Resistance has been at 92.55 which formed the top of the triangle. This is a consolidation move after running up 3% on 9/14. If XOM can break above 92.55 it potentially could set off a 3 point measured move sending XOM to 95.50. This area also happens to be XOM’s all times high and the highs from 2007. These all time highs can also be causing the resistance XOM is seeing at 92.55. This pattern is voided if XOM breaks below 91.74.
2012-10-05 08:20:29
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