Categories: Technical analysis

Exxon Mobil Wave Analysis 19 October, 2020

• Exxon Mobil falling inside impulse wave (3)

• Likely to fall to 33.20

Exxon Mobil continues to fall inside the intermediate downward impulse (3) – which previously reversed down from the resistance level 36.00 (which also stopped the previous minor correction (iv) in September).

The active impulse wave (3) belongs to the higher-order multi-month downward impulse sequence ⑤ from June.

Exxon Mobil is likely fall further toward the next support level 33.20 – followed by 32.00 (low of the previous impulse wave 1 from the start of October).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
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