Iran: Draft Agreement with US Eases Oil Sanctions

The news suggests a potential easing of oil sanctions on Iran. This could increase global oil supply, reducing energy costs and positively impacting operating expenses for technology companies such as GOOGL. Technically, the RSI is in neutral territory just below 50, while the MACD maintains a bullish trend above its signal line. Although the price closed above the 20-day moving average, it remains below the 50-day average. In the short term, an upward movement may be expected, supported by the positive sentiment from the news and recovery signals in technical indicators.

News of a draft agreement between Iran and the US to ease sanctions has created expectations of increased supply in the market, potentially exerting downward pressure on oil prices. Technical indicators support this view: the RSI is near the sell zone at 42, the MACD is below the signal line and in negative territory, and the price is trading below both the 20-day and 50-day moving averages, indicating short-term weakness. The 2% decline in the last 24 hours shows momentum favoring sellers. However, it is important to note that the agreement is still in draft stage and implementation may take time, so the downside could be limited.

The news hints at a potential easing of oil sanctions on Iran, which could exert downward pressure on prices due to expectations of increased supply. Technical indicators also confirm weakness: the RSI is near the sell zone at 43, and while the MACD is below zero and above the signal line, momentum remains weak. The price is trading below both the 20-day and 50-day moving averages, indicating a short-term downtrend. The 1.78% decline in the last 24 hours suggests continued selling pressure. However, I do not expect an excessive downturn due to the uncertainty of the deal and geopolitical risks.

News indicates that oil sanctions on Iran may be eased, creating expectations of increased global oil supply, which could put pressure on oil prices. XOM stock already shows a technically weak outlook, with RSI near oversold territory at 38 and MACD below the signal line. Trading below SMA20 and SMA50 further supports a short-term bearish trend. Therefore, the stock has a high probability of declining in the next 1-3 days.