01.08.2014 - The price of Exxon Mobil decreases sharply

The stock price of Exxon Mobil completed the formation of reversal pattern "double top" after breaking the 103.00 level of. An additional signal to open short positions was breaking through the strong slant line of support and a local minimum. Considering strong downward momentum, we expect the price to fall to 98.00, and then can continue to move downwards to 96.00, 93.00 and 88.00. We expect that the quotation of the company will continue to decline over the medium term.

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