US Futures Rise, Oil Prices Fall as Middle East Ceasefire Monitored

The S&P 500 (SPX) closed at 7,397, up 1.78% in the past 24 hours, trading above both its 20-day (7,365) and 50-day (7,281) moving averages. The RSI at 69.9 is approaching overbought territory but has not yet signaled overbought conditions. The MACD line sits just below the signal line, indicating sideways momentum in the short term. Middle East ceasefire news has lowered oil prices, easing inflation concerns and boosting risk appetite. However, the elevated RSI level and weak MACD signal suggest that the upside may be limited.

NDX has entered overbought territory (RSI 78.8) following a strong daily gain of 4.17%. While Middle East ceasefire news could support risk appetite in the short term, the fact that this positive news may already be priced in, along with overbought technical signals, could limit further upside. Although the MACD remains bullish, caution is warranted given the potential for slowing momentum. Therefore, a sideways trend is expected in the near term.

The news headline indicates that expectations of a ceasefire in the Middle East are putting pressure on oil prices by reducing supply risk. On the technical indicators, the RSI is at 51.6, in neutral territory, while the MACD is below zero but approaching the signal line, suggesting weak bullish momentum. However, the price is just above the SMA20 and SMA50, which could create short-term resistance. The 1.76% decline in the last session reflects the impact of the ceasefire news. In the short term, the downtrend is likely to continue, but since the technical indicators are not in oversold territory, I believe the decline may be limited.

The headline indicates that expectations of a ceasefire in the Middle East are putting pressure on oil prices. On the technical indicators, the RSI is at 50.6, in neutral territory, while the MACD is slightly above the signal line but shows weak bullish momentum. The price is trying to stay above the 20- and 50-day moving averages, but a 2.3% decline has occurred in the last 24 hours. In the short term, the downtrend may continue due to ceasefire news, but the decline is likely to be limited as technical support levels are nearby.