$XOM sees trend continuation in “Go” trend

$XOM sees trend continuation in “Go” trend


September 2023


Alex Cole

$XOM has seen a nice move higher in this current "Go" trend with a few higher highs and higher lows.

After a series of Go Countertrend Correction Icons (red arrows) we saw the trend weaken and the Trend indicator painted a series of paler aqua "Go" bars.  Momentum also waned, as the oscillator fell to test the zero line from above.  Now, having found support at that level, GoNoGo Oscillator is rallying sharply back into positive territory telling us that momentum is once again resurgent in the direction of the "Go" trend.  This has triggered a Go Trend Continuation Icon (green circle) to appear under the price bar. As it does this, we see the price trend strengthen to paint a strong blue "Go" bar and price hit a new higher high.