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stocksJun 24, 2026, 4:43 AM

Exxon Mobil (XOM) Elliott Wave Analysis Points to Further Downside

Elliott Wave analysis suggests Exxon Mobil's bearish cycle from the March 30, 2026 high remains incomplete, with potential for further declines toward the 100%–161.8% Fibonacci extension zone.

XOM

Exxon Mobil (XOM) is showing an incomplete bearish Elliott Wave sequence originating from the March 30, 2026 high, according to recent technical analysis. The broader wave structure indicates that the stock has not yet reached its extreme target zone, defined by the 100%–161.8% Fibonacci extension levels.

This outlook reinforces a continued downside bias for XOM, with traders watching for further weakness as the pattern develops. The analysis was presented in a video format, highlighting the bearish cycle's implications for the stock's near-term trajectory.

Source: FXStreet Forex News