XOM is in a strong uptrend, breaking out above 170 resistance, with 170 likely support; a pullback to 170 may come before a further bounce and upward wave. Upside remains even if crude has peaked or fallen, since integrated majors like XOM and Chevron were not hurt. At a 3-year high, some may take profits.

The reason I chose Exxon for today's trading example is that it is more liquid, with greater activity in the options market, and also in terms of sheer momentum, it continues to maintain this upward trend.

I know again that oil may be at a high level, which may lead to some price decline. We have seen that, frankly, even this recent rise back to 95. But at the same time, it has not affected integrated companies.

I mean companies like Exxon and Chevron. So, I think there is still an opportunity here even if crude oil has peaked or perhaps fallen.

Well, I agree with Dan. I mean, I think this chart is really interesting, especially among large integrated companies. In fact, this is the largest among integrated oil companies .

You have to remember that it's a give and take , because it suffers from production costs and also benefits from high refining margins in the end. So, there's a kind of push and pull here.

But at the same time, look at this stock in the middle of the year, from January to approximately June and July. And you had the larger “head and shoulders” pattern as a possible reversal pattern forming.

And you had a smaller "head and shoulders" pattern as a reversal pattern that was also forming. Neither of them came close to completion at that breakthrough after the June and July period.

Then we got this very strong upward surge. Therefore, it seems as though it is very difficult for investors to push the stock below some of these support levels. This does not mean that they cannot do it.

That doesn't mean it won't happen. However, you get a breakout above the 170 level, which has now been tested once, twice, and three times as a resistance level. You get a breakout and a slight price gap upwards, then today's sell-off due to oil movements.

At the same time, I believe it is a continuation of what came before. We get very strong gap movements that may just be a slight pullback. From a momentum perspective, you get a slight downward shift.

The implied volatility is relatively stable for this stock. And I think perhaps, if anything, you will see a technical pullback to the 170 support level before a possible further bounce and a new upward wave.

It is important to note that we are back on the rise, as you know, where today we are at or slightly above the highest level in 3 years. Therefore, we are at high levels where taking profits may make sense for some investors.

Yes, they are very similar . Yes, as you know, we are challenging and potentially breaking through the levels of the end of March, I believe. Once again, I was able to find some stability here and maintain this upward price movement.

And I think, as you know, when you look at the general tone of the market here, the example of trading today is buying this stock. Owning a stake is something we do; we own Exxon in some of our products.

Therefore, it was a long-term investment. So, I think that's the concept here. Then, writing the purchase option for January at $195, at approximately $3.75 here, allows for the collection of some installments during the next quarter.

And again, it's interesting that Ben saw the same thing I saw. This brings the break-even point closer to the 170 level. I think if we see some weakness in the next month or two , 170 is likely to be a support level.

Again, collecting this premium allows the breakeven point to drop closer to that level, but it also gives a strong range for upward movement if we maintain the upward price action .