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ExxonMobil Corp., Technical Analysis
2/20/2023 10:02 AMThe shares of ExxonMobil Corp., an American oil company, are rising within a local corrective trend at 111.00.
A global uptrend is forming on the daily chart, and the price is correcting, decreasing after leaving the local corridor with dynamic boundaries 124.00–116.00.
On a four-hour chart, it can work as a Flag trend continuation pattern, and quotes will continue to decline until reaching the lows of early December last year around 102.00.
Technical indicators reflect the presence of a local downward correction but keep a global buy signal: fast EMAs on the Alligator indicator are actively approaching the signal line, and the AO histogram is forming downward bars, falling in the buying zone and approaching the transition level.
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