Undoubtedly, the year has been very good for the Exxon Mobil share price. Though in 2018, it was a rowdy chart with a majorly ranging market. The year has all been bullish for the $XOM from 71.25 to its current 82.90. The last time RSI showed either overbought or oversold region was in July 2017. The first resistance level has been reached at level 81.88. There might have been several looks of a reversal in price but as it appears, the bullish movement might continue.
We might expect price to reach 88.16 which is the second resistance level. Unlike last year, there is a lower number of ranging markets in the $XOM market with the bulls more active. The Ichimoku’s future has already shown a bullish signal which might be an indication for the bulls to continue trading. If price touches the second resistance level, by this time, the RSI might show an overbought position.