XOM MACD trending favorably

XOM is trending between the 50 and 200 day MA, but the recent declines look to be trending favorably when looking at the MACD. Negative MACD is trending toward zero indicating the beginning of a reversal back to positive momentum.

Upward resistance at $90 and lower support at $75 which is increasing daily.

XOM priced at $65 Brent when physical market is tight, no scheduled increases in CapEx, and SPR releases working to keep pricing down.

XOM for the long haul, but anything under $83 or when Brent is in the $90’s

Upside target $135