ExxonMobil tests key support after breakout, eyes recovery above $155 to resume uptrend

ExxonMobil (XOM) recently confirmed a bullish breakout above a double bottom pattern and the 50-day moving average but faced a pullback testing key support near the 20-day moving average and 50% retracement level. The stock's short-term resistance is marked by a lower swing high at $163.68, while support zones between $151 and $149 remain critical to maintaining the bullish structure. A recovery above $155–$156 is needed to reassert upward momentum, with the weekly chart showing strong support around the 20-week moving average near $149. Overall, the pullback is seen as a test of the breakout, with the broader uptrend intact unless these support levels fail.