DTT Buzz
Exclusive Market Analysis, Alerts and Commentary from the DaytradeTeam trading staff
Wednesday, May 21, 2008
Exxon Mobil Corp (NYSE:XOM) Resistance Break
Over the last two years Exxon Mobil Corp (NYSE:XOM) has been pushing to the upside and trying to break 95 resistance. Even with Oil climbing over 100% during the last year and XOM continuing to make record profits it has not yet been able to happen, but last night in overnight trading XOM reached a high of 95.07. What does this mean? You always have to discount after hours trading because it is volatile and there isn't much volume, but it can act as a leading indicator for future trading. In the case of XOM I am looking at it as a leading indicator and expecting a sold break to the upside today. If it breaks we are likely to enter a long swing for our Premium System after we see the right type of price action.Join our Premium System for more information about the entry and exit on this trade. Call 1-866-232-9872 today
Best Regards
Keith Greff Jr
Trade Analyst
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