Exxon Mobil may fall to 104.20 - 106.60

Our pivot point stands at 118.8.

Our preference

Under pressure below 118.8.

Alternative scenario

The upside breakout of 118.8 would call for 122.9 and 125.3.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 117.1235 and 114.8818).

Supports and resistances

125.3 **

122.9 *

118.8 **

117.2

113.85 (USD-last)

109

106.6 **

104.2 *

101.8 **

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