XOM seems to be creating head and shoulders pattern. Imo the move for energies has been done, at least for a while. The previous support now acts like a resistance, and it failed to hold above 91.20 yesterday. I would be careful as it might be a change of trend and also could be wave 3 out of 5 on the way down. Still LT trend is bullish. We shall see if the 100MA will keep the price from falling lower.
Crude is off its highs and continue to fall ($106 as I type), taking with it XOM and others. I have not given up on XOM. I took profit at $99, and I am now waiting for the stock the break below $60. I have no stomach for high risk trades or options or futures, or shorting. I like the high dividend XOM pays when below $60, and makes waiting for profit taking. My Take.