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Exxon Mobil Bear Flag Signals Drop Coming

Shares of Exxon Mobil (XOM) have a tight bear flag formation on the daily chart. This signals downside coming in the next couple weeks for this oil play. The downside support level is $48.40 from its current $56.10 level. That means there is an over 10% downside reward to swing traders looking to short Exxon Mobil.

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