European Markets Rise as Oil Falls on US-Iran Deal Hopes

GOOGL shares closed at $359.67, down 1.66% in the last 24 hours. The RSI stands at 49.68, indicating a neutral zone, while the MACD is above the signal line but remains in negative territory. Staying above the 20-day SMA ($357.11) provides short-term support, while the 50-day SMA ($362.77) acts as a resistance level. Although the rise in European stock markets and the decline in oil prices support overall risk appetite, no clear directional signal has emerged for GOOGL. Therefore, a sideways trend is expected in the short term.

Brent crude oil remains under pressure amid expectations of a US-Iran deal, with technical indicators confirming the bearish outlook. Although the RSI at 37 is approaching oversold territory, the MACD is below zero and beneath its signal line. The price is trading below both the 20-day and 50-day moving averages, supporting a short-term downtrend. However, oversold conditions and the fact that deal-related news may already be priced in could limit the pace of the decline. While the bearish trend may persist in the near term, the $86 level should be watched as a key support.

Exxon Mobil (XOM) stock may face short-term pressure due to declining oil prices. Although the RSI at 38 is approaching oversold territory, the MACD remains below the signal line and in negative territory. Trading below the 20- and 50-day moving averages weakens the technical outlook. Expectations of a US-Iran deal could increase oversupply concerns, potentially lowering oil prices and negatively impacting energy companies' profitability. However, the low RSI level does not entirely rule out the possibility of a short-term bounce.

The news headline indicates that oil prices have declined due to expectations of a US-Iran agreement. This could have a short-term negative impact on energy companies such as Chevron. Technical indicators also point to weakness: the RSI is at 45, below the neutral zone; the MACD is below the signal line; and the price is below both the 20-day and 50-day moving averages. The last closing price of $187.21 is below these averages. The likelihood of a continued short-term downtrend is high.