Exxon Mobil Could Be Near ResistanceExxon Mobil has bounced in the last two weeks, but how much higher can it go?
The first pattern on today’s chart is the $105.87 level. It was the closing price on November 6. XOM remained below it later that month and been unable to reclaim it since. That may suggest it’s become resistance.
Next, stochastics returned to an overbought condition.
Third, the 50-day simple moving average (SMA) had a “death cross” under the 200-day SMA in late November. That may suggest bears are taking control over the longer term.
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