While I don’t closely follow energy stocks, I have been bearish oil since last year’s double top after the Ukraine conflict began. Anyone smart enough to have been long XOM since the double bottom in late 2000 has done extremely well. It is time to ring the register and sell. The chart shows a H&S top with the right shoulder coming after a large gap.(as a result of the OPEC+ production cut) That gap is likely to get filled soon as there are media reports that XOM has had informal talks to acquire Pioneer Natural Resources. Arbs usually wait for an actual deal to be announced before putting on their positions but one could go short XOM here because of the top pattern and the gap.