Solid News

ExxonMobil Corp., Technical Analysis

1/25/2023 10:05 AM

Shares of ExxonMobil Corp., a US oil company, are trading at 113.00.

A global uptrend is forming on the daily chart, and at the moment, the price is rising within the local corridor with dynamic boundaries of 118.00–111.00.

The four-hour chart of the asset shows that this range can work as a Flag trend continuation pattern. If the quotes consolidate above the local high of 114.70, the dynamics will continue to 120.00, and the decline will continue when 111.50 is broken.

Technical indicators are finishing working out a local correction, holding a global buy signal: fast EMAs on the Alligator indicator are at a sufficient distance from the signal line, and the AO oscillator histogram forms ambiguous bars in the buying zone.

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