Technical Pulse: Exxon Mobil Corp August 19, 2019 189


Support 1: 66.76                     Resistance 1: 77.92

Exxon Mobil’s bearish correction is likely to have come to a halt.  Based on our technical analysis, there may be a short term rally.

  • Last Thursday hammer closes above the 88.6% retracement and 161.8% of the extension level.
  • Friday’s bullish candle confirms the bullish rise. The 3-candlestick formation resembles a morning star pattern.
  • RSI has shown a bullish divergence
  • The hammer last Thursday rejected the lower bands of the Bollinger bands
  • There is a strong possibility that the stochastic oscillator lines will cross in the oversold region.



Bollinger Bands

Standard deviation = 2

Red line = Upper band

Blue line = Middle band

Green line = Lower band

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