$XOM Part 1) The Breakdown; long one since I haven't been keeping track, but worth the read imo

on 1/12 I said;
"but something to note, 114.24 - 118.18 is very big trailing resistance."
The high since the 12th was 114.02 lol.
Kind of like how I called $SNOW 188 top 10 days before it happened, almost exact. So leave all that "there's no way to know" noise away from me;

Here's what we got going on; remember earnings Friday can make everything I say irrelevant, but key levels will remain key levels regardless... More so the forward looking could skew;

30m- When we hit the 114 high, I mentioned if we reject we would retrace back to 107.70s, well.....
Anyways, did good from the bounce, We took back stage 1 (if you remember how I explained the trend cycles inside main trend cycles) , closed above the 55wma55sma band, 200hma sweeping the bottom but hasn't curled, 10hma crossing the 20/33 in the morning, along with the 55sma then 55wma 200hma. All that means is "momentum crosses" if they trigger.

65m- Closed right at the stage 2 reversal 55wma. 33hma swept bottom and is in a nice spot for trailing support. Helping carry trend if we continue. We would need the 20hma to cross the 200hma 55wma55sma for the reversion pull back to 109.9 / 110.19
We will continue to range this until we break back out, fwiw. 107.54 / 110, 107.54 break gets 105.78 ( the absolute bottom I called out ).

4hr- Notice we rejected the reversion pivot last 2 times ( the 155vwma orange line ), that is the "final stage" of trend reversal or "sentiment shift" which is what I point out happens "before" sector rotation, proved this with $SNOW and $CRM.
10hma nice curl on the bottom, will cross test the 200hma 33hma tomorrow, ( just another momentum cross) and then test the pivot again. Note it falls in line with the 65m reversion, this means it is a "key level"

Daily- Speaks for itself, 10hma is at 108.44, so we are technically above for continuation. but we have the 20hma crossing downside 33hma and 55wma. If that confirms, will be what pushes us to 105.78 test then would look to see if 104.84 ( the spot where I said go long on that 155sma weekly hold ).

Weekly- Posted in comments, proper reversion rejection can see it clearly there. 10hma at 108.68. The 20hma I mentioned on the 12th, has done what we thought, now is the critical part, it either bounces off the 155sma and sweeps bottom to curl, confirming trend reversal / sentiment shift, or it breaks down and pulls price. This is why it's a hard read with earnings on Friday. 

Monthly - Posted in comments, Need to close the month above or at least on the 108 / 110 trend support ( that line is from the $30 low, is why it is my main trend support line fwiw )
if we close below, could stall momentum. I don't think this will happen ( if guidance goes how I expect on Friday )

Thanks for reading, I appreciate your time, very much

$XLE $XOP $TTE $OXY $CVX $NEE
#XOM #SNOW