Exxon Mobil may rise to 123.80 - 126.10

Our pivot point is at 111.6.

Our preference

Short term rebound.

Alternative scenario

The downside breakout of 111.6 would call for 107.6 and 105.3.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the share stands above its 20 day moving average (112.632) but below its 50 day moving average (115.554).

Supports and resistances

128.5 **

126.1 *

123.8 **

121.3

115.12 (USD-last)

113.1

111.6 **

107.6 *

105.3 **

Number of asterisks represents the strength of support and resistance levels.