Top chart shows XOM approaching to a major resistance, bottom chart shows oil futures. Oil still trading over the uptrend resistance but is loosing steam. It might break down in a few weeks from now and XOM will follow. Keep it it in your watchlist to short it. I have a small short position waiting for a nice rejection to add. I wouldn't open new longs in energy stocks at this time.
Trade active
Holding short positions and puts.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.