XOM – Exxon Mobil

This is a long-term look at Exxon Mobil’s charts with a 20 year monthly candlestick chart. Over the last couple of years its share price made 2 strong attempts at a rally and failed. It resulted in 2 consecutive lower highs. With an ugly bearish looking candlestick for February so far, I think this could finally be XOM’s move lower towards the $60 price level. I anticipate weakness most of 2018 looking at this monthly chart.

I may have to take a look at a chart for oil futures and see if it agrees with probable lower prices at the pump…..”lower for longer” has been my mantra for a while now and it may play out this summer with lower gas prices….