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XOM Likely to Perform Well in 2025

Written By: ChartChamp

August 13, 2024

The price of oil has been artificially influenced by OPEC+ countries that are limiting the supply of their oil reserves. I believe that they want to sell their oil at higher prices in the future. XOM is one of the best oil stocks, but I think the current price is too pricy near all time highs. There is resistance near $119, and XOM is likely to trend down to the white trendline around $109.70. I prefer an entry below $110, preferably. in the greedy buy zone around $98-99.

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Maxymum
9 months ago

This almost looks good for a Momentum Burst strategy trade; however, we can see the volume here. I can not wait to see what happens after the joke of the debate and election.

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