XOM to 108
My trading plan is very simple. I buy or sell when price tags the top or bottom of parallel channels. I confirm when price hits Fibonacci levels. So... Here's why I'm picking this symbol to do the thing. Price at bottom of channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at oversold level VBSM is negative and at bottom of Bollinger Band Price at or near 3.618 Fibonacci level Entry at $105 Target is $108 or channel top
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Read MorePretty simple dynamic here in all probability this is a Squeeze
As the symmetrical triangle indicates, this is quite close to the lift-off of newer proportions, a key area to highlight, and this ping-pong shows 100 crossing over the 200, getting closer each day. Still, I don't think we're quite there yet, as some indicators have stated that we could sit anywhere in the 340s, simply ready to pull the trigger with so many setups creating many opportunities to go long.
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