Exxon Mobil Chart: Battle “Lines” Forming

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Exxon Mobil Chart: Battle “Lines” Forming

By David Spurr on December 15, 2008 | More Posts By David Spurr | Author's Website

This week could be an interesting week, technically, for Exxon Mobil (XOM). It looks like it’s forming a reverse Head and Shoulders Pattern. It’s also bumping up against the top of the down channel and the 200d SMA. The market direction is still down long term. If you sell resistance at 81.50 with a tight stop, you could be rewarded. It will be a stock that I focus on this week. Market cap is huge and the direction of this stock has significant impact on overall market direction and indices. Stay tuned.

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