XOM: Triple DeMark 13 sell into the 78.6% retraceExxonmobil Holdings CorporationBATS:XOMTillbobThe wall: XOM is pressing 167.6 and the whole trade lives under 170. The 168 area has turned price back repeatedly - including on prior visits weeks ago - so that shelf at 168.00-168.20 is established supply, not a level about to break. Every push into it so far has been sold. Why this level and not just any resistance: measuring the 176.41 high down to the 134.95 low puts the 78.6% retracement at 167.54 - exactly where price has stalled. The horizontal supply and the fib line are the same wall. A deep retrace into overhead supply is where advances usually stop, not where they accelerate. Momentum is stretched, not strong: Daily RSI is ~72 and price is trading above the upper Bollinger band. Outside the band is a stretch condition, not a buy condition - reversion back inside the band is the standard resolution. DeMark exhaustion is stacked here. I run the counts on a separate study so they are not plotted on this chart - snapshot of them: DeMark counts. The daily is showing a triple 13 sell: Sequential 13 and Combo 13 both fired two bars back, Aggressive 13 four bars back, with a fresh Setup 9 working now. Three separate exhaustion counts agreeing at the same price is rare. The weekly is on a DeMark sell as well. Daily exhaustion inside a weekly sell signal is the version of this that actually carries. Levels: Resistance / invalidation: 168.00-168.20, then 170. A daily close accepted above 170 kills the idea. First target ~165 - the gap from the 164.77 close is still open, and unfilled gaps under an exhaustion signal tend to get revisited. Second target 160.57 - the 61.8% retrace, and where the prior consolidation sat. Plan: short 167.50-168.20, stop 168.45 tight or 170.20 structural, first target 165.00 gap fill, second 160.57. Roughly 3R on the structural stop, better if today's high holds as the ceiling. In one line: repeatedly rejected resistance, deep fib retracement, overbought outside the bands, triple daily 13 sell, weekly sell. Structure stays capped under 170; base case is a rotation back to fill the gap. Not advice - just how the chart reads to me.