Good morning traders, today we bring you a bullish scenario that we consider interesting in EXXON MOBIL.
🔸From a technical perspective, we can detail that the price bounced off a strong Support Zone.
🔸Then, it broke to the upside the Descending Trendline and continued its upward movement, with a marked uptrend.
🔸We see that the price began to consolidate in a corrective structure, and, if we take the upside movement that happened in the past, both corrections occurred in the same price range.
🔸A couple of days ago there was a very strong candle to the upside, which confirmed the breakout of the structure.
🔸As the previous resolution was a strong move towards the resistance zone, we expect the same behavior in the current situation.
🔸From a technical perspective, we can detail that the price bounced off a strong Support Zone.
🔸Then, it broke to the upside the Descending Trendline and continued its upward movement, with a marked uptrend.
🔸We see that the price began to consolidate in a corrective structure, and, if we take the upside movement that happened in the past, both corrections occurred in the same price range.
🔸A couple of days ago there was a very strong candle to the upside, which confirmed the breakout of the structure.
🔸As the previous resolution was a strong move towards the resistance zone, we expect the same behavior in the current situation.