$XOM

$XOM is showing weakness as it consolidates just above the support level of its rising wedge, reflecting a failed attempt at a strong recovery. 

Following our earlier post, price action revealed a weak bounce, unable to generate significant bullish momentum. 

Last week, the bears stepped back in decisively, and the price now appears to be forming a small bear flag, a continuation pattern that signals potential for further downside. 

The bearish continuation candle from last week underscores the lack of bullish control, suggesting that it may take at least two more weeks for bulls to establish a pivot bounce off support, if at all. 

Until then, the trend favors the bears, with the risk remaining to the downside.

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