#MarketNews

🌤 Happy Thursday, dear traders! Let's check the news moving the financial markets today:

☄️ Fed Chair Jerome Powell indicated potential rate cuts later this year but remained non-committal on timing due to persisting inflation concerns.

🇬🇧 BOE Governor Andrew Bailey faces deep divisions among policymakers on the timing of potential UK rate cuts amidst political pressure ahead of elections.

🇺🇸 The US Treasury will conduct a $15 billion bond buyback from late May to July 2024, its first since 2002.

💬 JPMorgan notes that investor expectations ahead of the Apple report could be so low that even a slight decline in Apple's revenue might trigger a reversal in stock prices. Apple (#APPLE) shares are down 0.60% today.

🇯🇵 Japan maintains ambiguity over potential yen market interventions, as top FX official Masato Kanda declines to confirm recent actions amidst currency volatility.

🛢 The FTC is set to approve Exxon Mobil's $60 billion acquisition of Pioneer Natural Resources, contingent on Pioneer's former CEO not joining Exxon's board. Exxon (#XOM) stock is down 1.97% today

💰 Bitcoin drops below $58,000, risking further declines as the crypto market faces its worst month since the FTX crash, with hawkish Fed policies potentially impacting risky assets.

🖥 The Microsoft CEO committed $2.2 billion to AI and cloud infrastructure in Malaysia. Microsoft (#MICROSOFT) shares are up +1.49%.

That's it for today, guys! Click on 🔥if you liked our review, and see you soon!

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Well, Exxon (#XOM) looks extremely oversold. The price fell to the trend line, crossed the lower Bollinger line, and Stochastic indicates it was oversold.

📈 However, Exxon is doing quite well. Exxon Mobil projects an additional $2 billion in earnings from its Low Carbon Solutions business by 2030, driven by advances in hydrogen, carbon capture, and lithium technologies.

#Forecast

🔼 We consider buying #XOM on a bounce from the trend line;
🎯 Target: 122.00;

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#XOM

🛢 Amid growing geopolitical instability in the Middle East, ExxonMobil shares are showing confident growth. Since the beginning of the move, the price has already gained 8% and is now testing the key resistance level at 112.55.

🧲 If oil prices continue to rise and this level is broken, #XOM may head toward the next target — 119.10, where a price GAP acts as a magnet for further movement.

📈 The MACD, AO, and Parabolic SAR indicators also confirm strong bullish sentiment!

#TradeIdea

🔼 Buy #XOM only after a confirmed breakout of 112.55;
🎯 Target: 119.10

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