Technical Analysis: Exxon Mobil Could Be Stalling

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Energy stocks have dominated the market this year, but now the biggest of the bunch is showing signs of weakness: Exxon Mobil.

The first pattern on today’s chart is the jump following strong quarterly results on July 29. While that may have been impressive, it soon faded — a potential sign of marginal selling.

Next, the peak was below the $97.77 level where XOM gapped lower on June 13. The result was …

For more, please click here to view the related idea and chart analysis on TradingView.

Exxon Mobil (XOM), daily chart with selected patterns and indicators, courtesy of TradingView.
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