Categories: Technical analysis

Exxon Mobil Wave Analysis 5 February, 2021

• Exxon Mobil rising inside impulse wave 3

• Likely to reach resistance level 51.00

Exxon Mobil continues to rise inside the sharp upward impulse wave 3 – which started earlier from the pivotal support level 630.00 (former monthly high from December) coinciding with the lower daily Bollinger Band and the 61.8% Fibonacci retracement of the previous upward impulse 1 from December

The active impulse wave 3 belongs to the longer-term impulse sequence (3) from December.

Exxon Mobil is expected to rise further toward the next resistance level 51.00 (top of the previous impulse wave 1).

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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