Exxon Mobil Testing 2014 Support

By | December 16, 2014

Over the last three days, Exxon Mobil (XOM) shares have been testing their lows of the year. The price action at this point in today’s session looks positive, but I would caution that the stock price needs to close in its upper range, to support this reversal in sentiment. A close in the lower end of today’s wide range would reflect some rejection and create a bearish high wick candle. Be cautious and understand that it will take time for this beaten down sector to make technical repairs.

46. XOM chart

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