Trading news

ExxonMobil – prognosis via Dow Theory

Weekly chart:

In the big picture we see an intact downtrend, with a last course low at $ 66.65 and a correction zone between $ 82.68 and $ 90.09. The last correction ran precisely into this zone, but has been unable to continue the trend up until now. Nonetheless, the probabilities are more on the lower side.

Chart1

Daily chart:

In the daily chart, the short-term situation looks a little better. Here we see a young uptrend with a correction zone between $ 79.92 and $ 71.55. Currently, the price is correcting back into this zone. As soon as reversal signals show up in the form of green candles, there will be a chance for a long trade.

Chart2

Hourly chart:

In the hourly chart we also see a young uptrend, which is, however, deep into its correction zone again. As long as it does not exit the green correction zone downwards, the trend can still keep going. However, we must wait for reversal signals.

Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

Trader asset management

BORN STAHLBERG & Partner

AgenaTrader Trading Software

IMPORTANT NOTE: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.

Friday, 12 Feb, 2016 / 9:35

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