US Plans Tariffs on USMCA Countries, Faces Issues with Canada

The headline highlights the U.S. plan to impose tariffs on USMCA member countries and the issues with Canada. This situation could increase trade uncertainty and exert short‑term pressure on technology stocks such as GOOGL. Technically, the price is above the 20‑day moving average but below the 50‑day average, and the RSI sits in a neutral zone. The MACD remains in negative territory, confirming weak momentum. In the short term, the negative sentiment from the tariff news and technical resistance levels suggest a higher probability of downward movement.

The US tariff plans targeting USMCA countries could increase Canada's oil production costs, partially negatively affecting Exxon Mobil's (XOM) sales in the Canadian market. However, the tariffs also have the potential to raise oil prices, which could support XOM's crude sales. Technical indicators show a downtrend with the price below the 20- and 50-day moving averages and a negative MACD, while the RSI is in oversold territory, potentially signaling a short-term reversal. Overall, the market may remain uncertain in the near term, with prices likely to fluctuate over the next 1-3 days. Therefore, a neutral approach is recommended rather than a clear directional forecast.

Chevron (CVX) shares have fallen 4.2% in the last 24 hours, with the Relative Strength Index (RSI) dropping to 29, entering oversold territory. The MACD line is below the signal line and in negative territory, indicating weak short-term momentum. News headlines highlight the US plan to impose tariffs on USMCA countries and ongoing issues with Canada, which could create uncertainty for the energy sector. The price is trading below both the 20-day and 50-day moving averages, further weakening the technical outlook. While the short-term downtrend is likely to continue, some recovery is possible given the oversold conditions.

The news highlights the US plan to impose tariffs on USMCA countries and ongoing issues with Canada. This could create trade uncertainty for energy companies like BP and heighten concerns about oil demand. Technical indicators already paint a weak picture: RSI at 31.4 is near oversold territory, MACD is below the signal line, and the price is below both the 20-day and 50-day moving averages. The 5.7% decline in the last 24 hours indicates continued selling pressure. With negative news flow and technical weakness combined in the short term, the downtrend is expected to persist.