XOM: Update

We had a buy signal some days ago. Look the interesting pattern that is developing. I am not sure but looking at the volume decreasing during the formation of the triangle and the break with relative high volume (a little high), I would guess that we have a change in the trend, at least in the short term. The target could be 71.5, where it is the  61.8% fibonacci retracement and where it fills the gap.
In addition I suggest to look in the previous post about XOM where there is a long term perspective for the stock.

Watchlist: Citigroup, Gold & XOM

These are some securities that I am following. The bull US dollar is something to worry (it is not good going against the US dollar now, buying stocks), but I think that the bull US dollar is a sign of weakness on the euro, rather than weakness in commodities and stocks.

Citigroup: wating for the breakup of the down trendline (with volume)


C daily:

GLD: a good buy could be 107 USD

$GOLD daily:

GLD hourly:

XOM: down trendline broken. Refer to older post in order to look up for other timeframes charts.


XOM hourly:

XOM

It is difficult to imagine the market making new lows after this pattern in XOM.... but the trend is your friend. And mine.

XOM vs PBR, and the US Dollar Index

In this chart we can see the relationship between XOM and PBR. Take a look at the black line (the US dollar index) and the red line (XOM/PBR). We can see how the two lines have a close correlation. In my opinion, this relationship could be very useful to decide in which stock you should be invested. I think that (may be) the US dollar index can anticipate this relationship.

Time to sell PBR and buy XOM? May be. The next days I will be following this relationship.

In addition, a long term look at XOM. It is over an important tendency line, which was effective since 2002. Also, pay attention to the red line (9 EMA) and the yellow line (22 EMA), which give a buy signal in October 2009 and it is still valid (in the weekly chart).

Short term look: