White House: Deal with Iran to Be Announced Soon

The news could ease oversupply concerns by raising expectations of a deal with Iran, potentially pushing oil prices higher in the short term. However, technical indicators point to oversold conditions, with the RSI at 30 and prices below both the 20- and 50-day moving averages. The MACD is below its signal line and in negative territory, indicating continued bearish momentum. The 4.45% decline over the past 24 hours suggests the market is already weak, and the impact of the news may be limited. Therefore, while an upward reaction is expected, confidence in the move is moderate.

The news of a deal with Iran could create downward pressure on oil prices due to expectations of increased supply. Technical indicators already show a weak outlook: RSI at 42 is near the sell zone, MACD is below the signal line, and the price is trading below both the 20-day and 50-day moving averages. The 1.4% decline in the last 24 hours confirms negative momentum. In the short term, the downtrend is likely to continue, but price fluctuations may occur until the details and implementation timeline of the deal become clear.

The news of a deal with Iran reduces geopolitical risk to oil supply, potentially positively impacting energy stocks like OXY in the short term. However, the stock closed down 3.2% in the last session, with an RSI of 48 in neutral territory. Although the MACD is below the signal line, the deal news could lead to a recovery in technical indicators. The SMA20 and SMA50 are trading close to each other, suggesting the price may find support at these levels. A short-term upward move is possible, but the details of the deal and market reaction will be decisive.

The news of a deal with Iran could trigger a short-term recovery in natural gas prices by reducing geopolitical risks to energy supply. However, technical indicators remain in oversold territory (RSI 27), and the price is trading below both the 20-day and 50-day moving averages. While the MACD continues to give a sell signal, momentum remains weak. Therefore, upside potential is limited, and any upward move is expected with low confidence.