ExxonMobil Wave Analysis – 26 January, 2023

• ExxonMobil broke key resistance level 114.00

• Likely to rise to resistance level 120.00.

ExxonMobil recently broke above the key resistance level 114.00 (which reversed the price multiple times during the last November).

The breakout of the resistance level 114.00 accelerated the active impulse waves (iii) and 3 – which belong to wave (3) from December.

Given the overriding daily uptrend, ExxonMobil can be expected to rise further toward the next resistance level 120.00.