Oil Extends Decline After Trump Cancels Iran Strike

GOOGL shares fell 1.9% in the last close and are trading below the 50-day moving average. Although the RSI is at 48, indicating a neutral zone, the MACD remains below zero and is struggling to stay above the signal line, suggesting weak momentum. While the news headline highlights a drop in oil prices, no direct impact is expected for GOOGL; however, it could negatively affect overall market risk appetite. Technical indicators point to a short-term downward trend, but the decline is likely to remain limited.

The headline indicates a reduction in geopolitical risk premium and easing concerns over supply disruptions. Technical indicators also support this decline: the RSI at 35.6 is approaching oversold territory, but momentum remains bearish. The MACD line is below the signal line and in negative territory, signaling continued selling pressure. The price is trading below both the 20-day (91.17) and 50-day (92.32) moving averages, confirming a weak short-term trend. The 5.5% drop in the last 24 hours suggests accelerated selling, though oversold conditions may trigger some buying interest.

The news indicates a reduction in the geopolitical risk premium, which is putting pressure on oil prices. Technical indicators also support the decline: although the RSI at 37.5 is approaching oversold territory, momentum remains negative. The MACD line is below the signal line and in negative territory, suggesting the downtrend could continue. The price is trading below both the 20-day and 50-day moving averages, weakening the short-term outlook. However, following a 5% drop in the last 24 hours, a short-term bounce may occur, so excessive bearishness should be avoided.

Exxon Mobil (XOM) shares fell 3.6% in the last 24 hours, pressured by declining oil prices. Although the RSI at 32.5 approaches oversold territory, the MACD line remains below the signal line, and the stock is trading below both its 20-day and 50-day moving averages, indicating that short-term bearish pressure may persist. Headlines suggest that oil prices could continue to decline as geopolitical risks ease. Therefore, the probability of further downside movement in the near term remains high.