Exxon Mobile $XOM might be in the midst of a bullish reversal against the 2016-2017 dip represented by the falling channel below. XOM Daily Chart (click to enlarge) Bullish Breakout:- The daily chart shows the falling channel, but also the price bottom formed in 2017. - Then, there was a bullish push at the end of 2017, which broke the channel resistance.- This breakout opens up the 95.50 high from 2016 as well as the 100 mark. Pullback:- Note that there is a bearish divergence between price and the RSI. - Ideally, price will pull back towards 84, which was a previous resistance. Support here would then confirm the price bottom and signal the bullish scenario.- However, if the market is indeed bullish on XOM, it might not make it back to 84, unless the overall stock market goes into a correction phase. - We might want to start looking for support as high as 86 if price pulls back. - If the pullback pushes below 82 however, we might want to wait for more price signals and reassess.