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Sunday, May 24, 2020

Exxon Mobil Price Analysis: XOM to Break Upwards Anytime

Exxon Mobil shares (NYSE:XOM) are about to break upwards as price action in the chart reveals. The market has been consolidating since April 2020, following a massive drop of  January to March 2020.

 

The market has been moving sideways. ADX period 14 is at the level 20 (low momentum), and DM+ is slightly above DM- (bullish propensity). MACD default parameters have both the signal lines and histogram above the zero line.

 

There is an expectation of a rise in momentum, which would most probably favor bulls. By then, the ADX line would be above 30, and DM+ will be clearly above DM-. Then the MACD signal lines and histogram will be vividly above the zero line, which would all eventually lead to a Bullish Confirmation Pattern in the market.

 

Yes, a bullish breakout is expected on XOM any moment from now, and that could take price to the supply zones at 50.00, 60.00 and 70.00.

 

 

Azeez Mustapha

 

Market Analyst, Trading Signals Provider and Coach

 

Trading realities: Trading realities 

  

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha

 

Buy and sell Perfect Money/Payeer/BTC/AdvCash; get funded quickly: www.ituglobalfx.com.ng

 


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