Exxon Mobil may rise to 119.90 - 122.20

108 is our pivot point.

Our preference

Short term rebound towards 119.9.

Alternative scenario

The downside breakout of 108 would call for 104.5 and 102.3.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the stock is trading above its 20 day moving average (112.4365) but under its 50 day moving average (114.4658).

Supports and resistances

124.3 **

122.2 *

119.9 **

117.7

113.25 (USD-last)

109.5

108 **

104.5 *

102.3 **

Number of asterisks represents the strength of support and resistance levels.