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Exxon Mobil Corp., Technical Analysis

11/16/2022 11:26 AM

The shares of ExxonMobil Corp., a US oil company, are rising within an uptrend, trading near 114.00.

A global uptrend is forming on the daily chart, which is a consequence of implementing the global Triangle pattern with an upper border around 96.00.

On the four-hour chart, it is clear that the current growth has high prospects for continuation since the main target for the pattern around 120.00 has not yet been worked out. Given the structure of the current wave, it is obvious that after a local correction to 108.00, the quotes reversed and formed a new upward impulse.

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

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