Ray (and everyone)... whatcha make of XOM here?
stockcharts.com[r,a]dhcayiay[pb20!b50!b200!c20!d20,2!f][vc60][ilb14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14][J5593496,Y]&pref=G
That's a very clear 5 wave move down off the top after a very clear 3 wave move up. Now we've had a sorta choppy move off the 54.22 low that's retraced 50% of the down (plus 34 cents).
Similarly, VLO looks weakish to me...
stockcharts.com[r,a]dhcayiay[pb20!b50!b200!c20!d20,2!f][vc60][ilb14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14][J5593496,Y]&pref=G
Or maybe it's some sorta bullish triangle? Last move down was almost 26 points which would mean a similar move off the 111 high would take VLO down to 85...and the 200 dma.
Neither of these agree with your bullish oil take here, so I'm curious if you've got other interps.
the freep |
