Shares of ExxonMobil Corp. are declining within a local corrective trend, trading near 107.00.
There is an uptrend on the daily chart, and at the moment, the asset is correcting, falling within the local corridor with dynamic boundaries of 110.00–99.00.
On the four-hour chart, it can be seen that this channel can work as a Flag trend continuation pattern, and if it consolidates above the resistance line at 110.00, the growth will continue to the last year’s high at 114.60.
Technical indicators are finishing working out a local correction and do not give a clear signal: fast EMAs on the Alligator indicator are close to each other, and the AO oscillator histogram forms multidirectional bars near the transition level.