Exxon Mobil Wave Analysis – 24 January, 2020

• Exxon Mobil reversed from support area
• Likely to rise to 68.00

Exxon Mobil recently reversed up from support area lying between the key support level 66.50 (which has been reversing the price from August) and the lower daily Bollinger Band.

The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Hammer.

Given the strength of the aforementioned support area – Exxon Mobil is likely to rise further toward the next resistance level 68.00 (former support from December).