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ExxonMobil Corp., Technical Analysis
12/12/2022 10:06 AMShares of ExxonMobil Corp., an American oil company, are falling within a local corrective trend, trading at 103.00.
On the daily chart, the formation of a global uptrend continues, and the price is currently correcting, falling towards the resistance line of the global triangle pattern, coinciding with the 61.8% Fibonacci full retracement level of around 95.50.
In the four-hour timeframe, the quotes have almost reached the 38.2% Fibonacci base correction level at 102.70, and consolidation below it will mean the start of a full-fledged decline.
Technical indicators reversed and gave a sell signal: fast EMAs on the Alligator indicator crossed the signal line downwards, and the AO oscillator histogram is forming downward bars in the sell zone.
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