October 19, 2020 at 03:03PM
• Exxon Mobil falling inside impulse wave (3)
• Likely to fall to 33.20
Exxon Mobil continues to fall inside the intermediate downward impulse (3) – which previously reversed down from the resistance level 36.00 (which also stopped the previous minor correction (iv) in September).
The active impulse wave (3) belongs to the higher-order multi-month downward impulse sequence ⑤ from June.
Exxon Mobil is likely fall further toward the next support level 33.20 – followed by 32.00 (low of the previous impulse wave 1 from the start of October).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/exxon-mobil-wave-analysis-19-october-2020-20201019/
Selected by fonecable.com
- Crude Oil Over Crypto
- US Dollar Price Action Setups pre-CPI: EUR/USD, GBP/USD, USD/JPY
- Cathie Wood & Ark: Insiders Aren’t Buying the Hype
- Breaking News: ECB Holds Rates, Setting up July and September for Fireworks
- Currency Carry Trade: What is it and how does it work?