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ExxonMobil Corp., Technical Analysis

9/13/2022 11:36 AM

Shares of ExxonMobil Corp. rise in an uptrend around 97.00.

On the daily chart, a global uptrend is forming, within which the price has completed a downward correction, reaching the support line at 82.00, and is developing a new upward impulse.

On the four-hour chart, local growth develops within an ascending channel with dynamic boundaries of 94.00–105.00. The key resistance for opening buy positions is the mid-August local high at 100.00, the breakout of which will open the way for the trading instrument to the year’s peak of 105.50.

The readings of technical indicators confirm the development of upward dynamics: fast EMAs on the Alligator indicator began to expand the range of fluctuations, and the histogram of the AO oscillator is forming rising bars in the buying zone.

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