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Mode:<\/strong>\u00a0Impulsive.<\/p>\n Structure:<\/strong>\u00a0Motive.<\/p>\n Position:<\/strong>\u00a0Wave {iii} of 1.<\/p>\n Direction:<\/strong>\u00a0Upside in wave {iii}.<\/p>\n Details:<\/strong>\u00a0Wave (4) appears to be complete, with a five-wave advance in wave {i} followed by a three-wave correction in wave {ii}.<\/p>\n Exxon Mobil (XOM) is showing signs of a renewed bullish trend following the completion of wave (4). The daily chart indicates a five-wave rally forming wave {i}, then a corrective pullback forming wave {ii}. Current price movements suggest the beginning of wave {iii}, which typically carries strong upside momentum in an impulsive trend. This pattern supports the outlook<\/a> for continued gains in the near term.<\/p>\n Mode:<\/strong>\u00a0Impulsive.<\/p>\n Structure:<\/strong>\u00a0Motive.<\/p>\n Position:<\/strong>\u00a0Wave (iii) of {iii}.<\/p>\n Direction:<\/strong>\u00a0Upside in wave (iii).<\/p>\n Details:<\/strong>\u00a0The move within wave (iii) is extending higher, suggesting acceleration in minute wave {iii}.<\/p>\n On the 1-hour chart, XOM continues to push higher within wave (iii) of minute wave {iii}. The structure exhibits impulsive characteristics, confirming a strong trend continuation. The setup indicates further bullish potential, with the current leg likely to gain pace as part of a broader rally. Traders should monitor for continued upward extension and potential breakout signals.<\/p>\nExxon Mobil Inc. (XOM) Elliott Wave technical analysis [Video]<\/h2>\n