$XOM is now testing a major horizontal resistance level—right where a well-defined high-base pattern tops out. This kind of structure usually signals institutional accumulation happening under the hood, not the typical distribution you'd see at local peaks. What makes this interesting? The price is holding near these highs while trading sideways, which means there's no panic selling despite the resistance. That kind of calm at resistance often suggests strong hands are still positioned to support the level. If $XOM manages to clear this barrier convincingly, it could indicate the institutional players are ready to push higher.