ExxonMobil scores more gains - Analysis - 21-09-2018

ExxonMobil's stock kept rising in the short term, while settling above 83.85, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the medium term (from 95.55 to 72.16), with positive support from the 50-day SMA, while the RSI reached overbought levels. 

Therefore we expect more gains for the stock, as long as it settles above 83.85, targeting the next resistance of 86.61, which represents the ratio 61.8% of the same retracement levels. 

Expected trend for today: Bullish