Traffic Halts in Strait of Hormuz, Blockades Continue

The blockage in the Strait of Hormuz is creating a serious risk of supply disruption, pushing oil prices upward. Brent crude closed at $113.21, showing an upward trend. With an RSI of 57, it has not yet entered overbought territory, indicating further upside potential. Although the MACD line remains below the signal line, it is in positive territory and trading above both the SMA20 and SMA50. In the short term, geopolitical risks and technical supports are favoring the uptrend, but a rapid correction could occur if the blockage is resolved.

The blockade in the Strait of Hormuz poses a serious risk of oil supply disruption, which could push prices higher in the short term. WTI's 2.4% rise in the last 24 hours indicates that the market has begun pricing in this geopolitical risk. Although the RSI is at 51, in neutral territory, the MACD remains above the signal line, suggesting that upward momentum continues. The price being above the 20- and 50-day moving averages also technically supports the bullish trend. However, as the duration of the blockade remains uncertain, expectations of excessive price increases may be risky.

The blockage in the Strait of Hormuz has heightened concerns over short-term oil supply disruptions, which could positively impact energy stocks. XOM's RSI stands at 56, in neutral territory, and its price is above both the 20-day and 50-day moving averages, technically supporting an upward trend. However, the MACD remains below the signal line, and a slight decline has occurred in the last 24 hours, indicating weak momentum. Geopolitical risks could drive prices higher in the short term, but the impact may be limited.

The blockage in the Strait of Hormuz increases the risk of oil supply disruptions, potentially providing short-term support for energy stocks. CVX stock is trading above its 20- and 50-day moving averages, with an RSI of 58 indicating a neutral-to-slightly bullish zone. Although the MACD remains below the signal line, it is in positive territory, suggesting momentum has not fully faded. The combination of technical structure and geopolitical risk makes an upward move in the stock highly probable within 1-3 days.