Will the Descending Triangle hold or fail? Plot your targets on the chart.
Bearish continuation pattern.
Technical analysis of ExxonMobil (XOM) reveals a significant setup. Currently at $137.81, the asset is showing downward momentum (-2.08%). The primary technical feature is a Descending Triangle formation. Buying pressure is strong relative to the 20-day average. A potential breakout level is identified at $135.85, targeting $108.02 with support near $153.81 (R:R 1.55).
What is your outlook on XOM?