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).