Oil Holds Losses After Iran Agreement

WTI crude continues its downward trend following the Iran agreement. Technical indicators point to weakness: RSI at 43 is in sell territory, and MACD is below the signal line and negative. While the price is attempting to hold just above the 20-day moving average (80.57), it remains well below the 50-day average (83.21). Short-term bearish pressure is expected to persist, but the $80 level should be monitored as a key support.

The headline indicates that oil prices are continuing their downward trend following the Iran deal. Technical indicators also support this view: the RSI at 38.95 is near oversold territory but has not yet signaled a recovery. The MACD line is below the signal line and in negative territory, pointing to weak short-term momentum. Although the price closed just above the 20-day moving average (83.22), it remains well below the 50-day average (85.86). Therefore, the likelihood of a continued decline in the short term is high.

Exxon Mobil (XOM) shares declined 6.6% to $140.97, pressured by falling oil prices. Despite the Relative Strength Index (RSI) entering oversold territory at 25.4, the MACD continues to issue a sell signal, and the stock is trading below both its 20-day and 50-day moving averages. News regarding the Iran deal continues to weigh on oil prices, which may further pressure energy sector stocks. In the near term, technical indicators are expected to remain weak.

Chevron (CVX) shares fell 5.4% in the last 24 hours, closing at $180.43. While the RSI at 30.46 approaches oversold territory, the MACD line remains below the signal line and in negative territory. The stock is trading below both its 20-day ($185.29) and 50-day ($187.37) moving averages. Headlines indicate that oil prices continue to decline following the Iran deal, which could pressure energy sector stocks. The short-term downtrend is expected to persist, though a potential rebound cannot be ruled out given the oversold conditions.