XOM - Now it get's interesting!

Welcome back to another update on Exxon Mobil. XOM

Most oil stocks showed impressive movement in the last week, a very long correction seems to come to an end.
Currently we are still more than 60% away from the ATH and Exxon Mobil is still very cheap to buy.
The 35% growth that we saw since the bottom of big wave 2 is very likely the first impulse of a 1-5 structure.

Primary scenario:
We are forming a solid 1-2 setup and will correct at least to 37$-35$.
From there we will start the wave 3, which will bring us to prices above 50$ or even more.


Alternative scenario:
My alternative scenario will get triggered if we break the previous high of wave 1 @42.07$
The bulls will push Exxon Mobil directly to prices above 50$ and we won't see another correcting in the upcoming days.

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