Iran Declares Full Authority Over Transits in the Strait of Hormuz

The news that Iran has declared full authority for passages in the Strait of Hormuz increases geopolitical risks. This situation could trigger concerns over oil supply disruptions, pushing Brent prices higher. Although technical indicators are weak (RSI at 43, price below SMA20 and SMA50), short-term panic buying driven by the news could shift momentum. However, due to the weakness in indicators and the recent downtrend, the upside may be limited.

The news increases geopolitical risks as Iran declares full authority over passages in the Strait of Hormuz. This could stoke concerns over oil supply disruptions, potentially pushing prices higher in the short term. Although technical indicators are weak (RSI at 44, MACD below zero), the sudden demand pressure from the news may override these negative signals. However, the price remaining below the 20- and 50-day moving averages suggests any upside may be limited. Therefore, I expect an upward move but caution against excessive optimism.

The news increases geopolitical risks and creates uncertainty over energy supply, but XOM stock is already in oversold territory (RSI 27.2), suggesting a potential short-term technical rebound. Although the MACD is in negative territory, it is approaching the signal line, indicating that bearish momentum may be slowing. The stock is trading below its 20- and 50-day moving averages and has lost 3.2% in the last 24 hours. While the short-term downtrend may continue, the decline is expected to be limited due to oversold conditions.

Iran's declaration of full authority in the Strait of Hormuz could increase the risk of oil supply disruptions, potentially driving energy prices higher. Although CVX shares declined in the last close, the RSI at 41 is approaching oversold territory, and the MACD has started to rise above the signal line, which may signal a short-term recovery. However, trading below the 20-day moving average and well below the 50-day average suggests any upside may be limited. With geopolitical risks being priced in, the stock is expected to move slightly higher within 1-3 days.