Exxon Mobil Corp Retreats At Double Top Resistance

This morning, leading integrated energy stock Exxon Mobil Corp (NYSE:XOM) is declining lower by 0.86 cents to $102.07 a share. The stock looks to be pulling back from a double top resistance area on the daily chart from May 8, 2014. It should be noted that Exxon Mobil Corp stock is still trading above its daily chart 20, and 50-day moving averages. This puts the stock in a strong technical position despite the decline in the stock today. Day traders should watch for solid intra-day support around the $101.50 level. This is an area on the chart where day traders could expect institutional sponsorship and intra-day bounce.





Nick Santiago
InTheMoneyStocks.com