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Exxon Mobil Corp., Technical Analysis

10/20/2022 10:13 AM

Shares of American oil company ExxonMobil Corp. rise, trading at 104.00.

On the daily chart, a global uptrend is forming, within which it moves in a side channel, confidently approaching its upper border around 105.60.

The four-hour chart shows that the current growth has high prospects for continuation, as the quotes have been holding above the key level of 100.00 for a long time. The main resistance for long positions is the year's high recorded at the beginning of summer at 105.60, the breakout of which will allow growth towards the resistance at 112.00.

Technical indicators strengthen the buy signal: fast EMAs on the Alligator indicator expand the range of fluctuations, and the AO oscillator histogram forms rising bars in the buying zone.

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