There are some signs that Exxon $XOM has turned bullish by the turn of the year. Let's take a look at what the weekly chart says.XOM Weekly Chart(click to enlarge)Channel Resistance:- On the weekly chart, the first thing we should notice about the current price action is that it is cracking a falling channel resistance. - In terms of overall trend, this chart shows a sideways market, so there's not dominant prevailing trend. Price Bottom:- Look at the price action in 2017. It looks like an inverted head and shoulders.- The thing is price already rallied from this price bottom. - The question now is weather the short-term bullish break will extend.84 is Critical:- If price pulls back, we should monitor the 84 level.- A bullish market should hold above this level. So if it does, I would consider a bullish outlook at least to the 2016 high just under 96. - A break below 82 on the other hand would take away the bullish bias, and we would need to reassess.