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Energy | Stocks | Technical Analysis
Chart of the Day: Exxon Challenges Short Term Resistance
David Russell
May 20, 2024

Exxon Mobil rallied in March and early April. Now, after a pullback, some traders may expect further upside.

The first pattern on today’s chart is the falling trendline along last month’s highs. The energy giant closed above it on Friday, which could be considered …

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.
Tags: XOM

About the author

David Russell
David Russell is Global Head of Market Strategy at TradeStation. Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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