ExxonMobil rises alongside the trend line - Analysis - 11-09-2019

ExxonMobil's stock rose in the short term after shaking off negative pressure from the 50-day SMA, while trading alongside the main downward trend line in the medium term, with negative signals from the RSI after reaching overbought levels compared to the stock's movements. 

Therefore we expect the stock to decline as long as it trades alongside the downward trend, targeting the first support at 70.59. 

Expected trend for today: Bearish