XOM and WTIC

[antwerks]

XOM reaching the predict high zone this week - we have one more day which might end strong. We continue to remain in a pennant pattern hoping to break out to the upside. from my charting scripts it predicts a downward turn to touch the bottom of a narrowing wedge-shaped pennant to then turn and hopefully break up and out to reach the elusive 115 before making a new bullish trend. We will see... Crystal balls in the stock market sometimes are not as clear as one would hope lol, I have west Texas crude charted purple along with XOM and it is making the same pattern, so we have some back up data to hopefully help predict some price action. I am thinking the market as a whole is a tad exhausted and ready for some profit takers to step in, folks who had bought when it was high before the down turn willing to take some off the table as they break even or gain a few dollars. Be watchful and good luck.