Exxon Mobil Corp. (XOM) was bearish entering 2017, but started to consolidate in March. XOM Daily Chart(click to enlarge)Consolidation:- In the 4H chart, we can see that Exxon (XOM) has been trading roughly between 80.30 and 84.75. - This range is still going, and the price structure within the range has been indicative of any bias.- The only bias would be bearish due to the prevailing trend.- Also, if price fails to reach 84, and has made a high around 83.00, then we should not rely on the support around 80.30 if price falls to it. This failure to reach the resistance around 84 would indicate bears taking control.- Furthermore, it would keep price under the 200-period simple moving average, and the RSI under 40. These would maintain the bearish bias. Resistance; Reward to Risk:- If Exxon (XOM) does push above the May-high just above 83.00, then we should anticipate resistance around 84.00.- However, a break above 84.50 would likely open up a bullish outlook, so a stop could be something like 84.75. - A target in the middle of the range around 82.00 would offer a reward to risk around 2:1.- A target to 80.50 would be around 3.7:1.