Exxon recently reversed down from the resistance zone near the buy target 104.00 that was set in our earlier technical analysis report for this company. The resistance zone near 104.00 was strengthened by the upper daily Bollinger Band and the upper resistance trendline of the daily accelerated up channel from March.
The downward reversal from this resistance area created the strong Japanese candlestick reversal pattern – the double-Doji Evening Star. Exxon can correct further down to 100.00 – form where the upward reversal is likely toward 102.00.
The post HY MARKETS News: Stocks Report: Exxon Mobil Corporation appeared first on | HY Markets Official blog.
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