Technical Analysis: Oil Giant Hasn’t Done This All Year

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Exxon Mobil has been drifting since the late spring along with other energy stocks. But now it’s trying to do something it hasn’t done all year.

The main pattern on today’s chart is the 200-day moving average, one of the most basic measures of long-term support. XOM tested that level yesterday for the first time since December, which could draw some investors from the sidelines.

Second is the trendline running along the lows of February and July.

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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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