Exxon Mobil has hit a new high, showing a positive trend. This upward movement began from a low point on November 26, 2025, and is following a five-wave pattern. Wave (1) ended at $125.93, then wave (2) dropped to $118.27, forming a zigzag shape. In wave (2), wave A hit $122.39, wave B peaked at $126.20, and wave C fell to $117.90, completing this correction.

Wave 3 Progression

Next, the stock rose in wave (3). Wave 1 reached a high of $124.86, then wave 2 retraced to $122.56. The increase continued in wave 3, ending at $131.72, followed by a pullback in wave 4 which settled at $128.30. This pattern hints at the possibility of another gain in wave 5 of (3). After wave 5 finishes, we expect an adjustment phase in wave (4) that will correct from the low on January 8, 2026, before the longer-term trend resumes. In the short term, as long as the support level at $117.90 holds, any decline is likely to stabilize within a 3, 7, or 11 swing pattern. This indicates a promising future for Exxon Mobil, with sustained strength expected after any short-term corrections. Currently, Exxon Mobil appears to be in the final stage of a strong upward trend that started back in November 2025. This suggests the stock has some additional upside potential in the short term. This setup may favor short-term bullish strategies, like buying near-term call options, to take advantage of this last upward move. However, once this final upward push is complete, we expect a corrective pullback. Traders should be ready to take profits from any bullish positions as momentum peaks. Shifting to a bearish approach, such as buying put options, could be a way to benefit from this anticipated temporary decline.

Market Support Factors

This technical outlook is backed by the broader market, with WTI crude prices recently surpassing $95 a barrel for the first time since late 2024. This increase comes from OPEC+’s continued production discipline throughout 2025 and a recent government report showing a significant drop in U.S. oil inventories. These factors strengthen the overall positive case for energy stocks. We have seen similar patterns before, especially during the rally in the second quarter of 2025. Back then, the stock experienced a rapid rise followed by a healthy pullback that set the stage for the next big advancement. This history suggests that the expected correction could provide a good opportunity to enter longer-term bullish positions. The key support level to monitor is the $117.90 mark, which was the low point during the corrective wave in late December 2025. As long as the stock remains above this level, the bullish trend is considered valid. Any defensive strategies—like setting stop-loss orders on long positions or selecting strike prices for put options—should be based around this important threshold. Create your live VT Markets account and start trading now.

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