As expected, Exxon Mobil managed to update the all-time high above 104.7, after which the price moved to a corrective decline. However, the correction escalated into a precipitous decline that exceeded 20% at the June 23 low.
Probably, the "bears" overdid it a little: oil prices remain high, and Exxon Mobil is justified in being closer to the highs. After the formation of the "harami cross" on the chart, a new wave of growth may start. The gap formed on June 15-16 at the level of 93.3 can be singled out as a target.