Will the Double Bottom hold or fail? Plot your targets on the chart.
Reversal pattern after a downtrend.
Technical analysis of ExxonMobil (XOM) reveals a significant setup. Currently at $149.24, the asset is showing downward momentum (-2.23%). Price action has carved out a classic Double Bottom. This setup is supported by average volume turnover. A potential breakout level is identified at $176.41, targeting $206.1 with support near $161.57 (R:R 2.0).
What is your outlook on XOM?