Exxon Mobil – Mid Term Forecast $XOM
We last took a close look at Exxon in May, and it’s time to revisit those targets and set new ones. Let’s see whether oil’s recent weakness—slump might be fairer—has affected the oil giant’s technical readings.
CANDLES
Exxon candles have been shouting loud recently and here we have a result. The daily and the weekly confirmed tops on the respective frames. On top of that, a freshly minted 8/20 daily EMA bearish cross and a 50/100 weekly bearish cross support further decline.
The monthly frame is neutral, leaning bearish, but the 2M and larger look rather healthy and ready to withstand the upcoming short/mid-term storm. There is a fair chance that the bear market will be limited to a few weeks, possibly a month.
Overall, XOM is bearish short and mid term and bullish long term.
Elliott Wave
We keep a solid record of Exxon long term forecasts.
As XOM printed a relatively shallow wave A down and most likely completed wave B, I’ve adjusted the main targets for wave C of (2) while keeping the alternate on the table. If XOM lands in the $82–101 area, it could form a large classical bullish flag, setting up a strong rally later this year or early 2026.
Happy Trading!
