Today’s instrument is Exxon Mobil, a high dividend-yield company traded on NYSE Exchange under the ticker XOM. 

When we look at the XOM’s chart, we can see that after testing its support at around $89, it fell to the current price of about $87.30. Today if it manages to hold it above its support level at about $87, then we could expect it to rise towards its resistance level which is located at approximately $90 otherwise it should fall towards the level of $85.

More By This Author:

EURUSD: The Rate Could Continue To Rise
Carnival Corporation: Expected To Drop Towards The Level Of $7.50-8
USDJPY: Expected To Drop Towards The Level Of 142.50