Exxon Mobil may fall to 103.40 - 105.70

Our pivot point stands at 118.

Our preference

The downside prevails as long as 118 is resistance.

Alternative scenario

The upside breakout of 118 would call for 122 and 124.3.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 115.763 and 117.7054).

Supports and resistances

124.3 **

122 *

118 **

116.5

112.75 (USD-last)

108.1

105.7 **

103.4 *

101.1 **

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