Exxon Mobil Price Analysis: XOM to Break Upwards Anytime

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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.

 

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