Crucial Moment for XOM

There was a substantial up-trend since Oct. 2020. This trend ended at about $100. Price increased to $127 but has since fallen to $106. There was resistance at $105 in 2014 and this is a key level again. Price is currently $106 and $105 is support. This is a crucial moment the stock given there is not a well-defined up-trend now, and price is so close to support. Also, volume has been decreasing during the up-trend since 2020 which indicates the trend is losing pressure to maintain it. Going long now is o.k., but a stop should be used at $104 which is just below support. If price falls below $105, the stock can be shorted down to support at $95. See three highlighted areas. This is a 10% drop from $106. This is not investment advice.