Exxon recently reversed up sharply from the strong support zone surrounding the round support level 100.00. This support zone was strengthened by 38.2% Fibonacci Correction of the earlier sharp minor upward impulse 3, lower daily Bollinger Band, support trendline of the daily up channel from March as well as the lower channel line of the more recent down channel from the start of May.
The latest upward impulse 5 from this support zone broke the resistance level 102.00, mentioned in our earlier forecast for this company. Exxon is trading close to the resistance level104.00. If it breaks above 104.00 – Exxon can rise to the next buy target at 106.00.
The post HY MARKETS News: Stocks Report: Exxon Mobil Corporation appeared first on | HY Markets Official blog.
