Technical outlook:
XOM bearish scenario:
We have technical figure Rising Wedge in US company Exxon Mobil Corporation (XOM) at daily chart. ExxonMobil is an American multinational oil and gas corporation. ExxonMobil is one of the largest of the world's Big Oil companies. The Rising Wedge has broken through the support line at 22/12/2020, if the price holds below this level we can have possible bearish price movement with forecast for the next 10 days towards 38.56 USD. Our stop loss order should be placed at 44.47 USD if we decide to enter this position.
Fundamentals:
- Louisiana Governor John Bel Edwards said Exxon Mobil Corp is considering investing more than $240 million in its 517,700-barrel-per-day (bpd) Baton Rouge, Louisiana, refinery. Exxon is contemplating several projects to increase flexibility in crude oils the refinery can process and to reduce pollution at the refinery, Edwards said in a statement
XOM bearish scenario:
We have technical figure Rising Wedge in US company Exxon Mobil Corporation (XOM) at daily chart. ExxonMobil is an American multinational oil and gas corporation. ExxonMobil is one of the largest of the world's Big Oil companies. The Rising Wedge has broken through the support line at 22/12/2020, if the price holds below this level we can have possible bearish price movement with forecast for the next 10 days towards 38.56 USD. Our stop loss order should be placed at 44.47 USD if we decide to enter this position.
Fundamentals:
- Louisiana Governor John Bel Edwards said Exxon Mobil Corp is considering investing more than $240 million in its 517,700-barrel-per-day (bpd) Baton Rouge, Louisiana, refinery. Exxon is contemplating several projects to increase flexibility in crude oils the refinery can process and to reduce pollution at the refinery, Edwards said in a statement