Recommendation for XOM Oil: Buy

Buy Stop: Above 0,373

Stop Loss: Below 0,342

Indicator Value Signal
RSI   Buy
MACD   Buy
MA(200)   Neutral
Fractals   Neutral
Parabolic SAR   Buy
Bollinger Bands   Neutral

Chart Analysis

IFC Markets Tech Analysis

On the daily timeframe, XOM_Brent: D1 is trying to correct upward from a 7-year minimum and exceeded the downtrend resistance line. A number of technical analysis indicators formed signals for further growth. We do not exclude a bullish movement if XOM_Brent rises above the last upper fractal: 0.373. This level can be used as an entry point. We can place a stop loss below the Parabolic signal and the lower fractal: 0.342. After opening a pending order, we can move the stop loss to the next fractal low following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the 4-hour chart and place a stop loss, moving it in the direction of the bias. If the price meets the stop loss (0.342) without activating the order (0.373), it is recommended to delete the order: the market sustains internal changes that have not been taken into account.

Fundamental Analysis

In this review, we propose to consider the XOM_Brent personal composite instrument (PCI). It reflects the price action of the stocks of Exxon Mobil Corporation (an American oil company) against Brent oil futures. Will the XOM_Brent quotes increase?

This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.

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