Trump: Deal with Iran to Be Signed Tomorrow

News that an agreement with Iran is expected to be signed increases the anticipation of a supply surplus, putting pressure on oil prices. Technical indicators also support the bearish trend: the RSI is in weak territory at 42, the MACD is below its signal line, and the price is trading below both the 20-day and 50-day moving averages. The 2% decline over the last 24 hours confirms downward momentum. The likelihood of continued short-term decline is high, but if the market enters oversold territory before the deal details are clarified, bargain buying could emerge.

The news that an agreement with Iran will be signed could heighten oversupply concerns. Technical indicators are already weak: the RSI is at 43 in bearish territory, and while the MACD is below zero and above its signal line, momentum remains weak. The price is below both the 20-day and 50-day moving averages, confirming a short-term downtrend. The 1.78% decline over the past 24 hours may have already priced in the news. With the deal expected to increase oil supply, downward pressure could persist.

News indicates that a deal with Iran is set to be signed. This could create expectations of increased oil supply, potentially weighing on oil prices and negatively impacting Exxon Mobil (XOM) stock in the short term. Technical indicators already show a weak outlook: RSI at 38 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 1.22% decline over the past 24 hours confirms this weakness. The deal news could further deepen the existing technical weakness.

The news that an agreement with Iran will be signed reduces geopolitical risks and alleviates concerns over oil supply. This could create a favorable short-term environment for energy companies such as Chevron. Technically, the RSI is at 45, in neutral territory, and the price is trading below both the 20-day and 50-day moving averages, limiting upside potential. The MACD is below the signal line and in negative territory, but the price being slightly up from the last close could signal a recovery. A short-term upward move may be expected, but confidence is moderate as technical indicators have not yet given a strong buy signal.