Trump May Reveal Preliminary Iran Deal Text by Friday

The news indicates that a potential deal with Iran is approaching, which could heighten concerns about a supply glut. Technical indicators are already weak: the RSI is near oversold territory at 34.7, and while the MACD is below zero but above its signal line, momentum remains fragile. The price is trading below both the 20-day (83.22) and 50-day (85.28) moving averages. In the short term, expectations of a deal may increase selling pressure, but the low RSI also carries the risk of a sudden rebound.

The news hints that a potential deal with Iran is imminent, which could amplify oversupply concerns. Technical indicators already present a weak outlook: RSI at 38 in the sell zone, MACD below zero and below its signal line, and price trading below SMA20 and SMA50. In the short term, this news could accelerate the current bearish trend. However, I do not expect excessive downside given the deal is not finalized and geopolitical risks persist.

The news suggests that a potential deal with Iran could reduce geopolitical risks and alleviate concerns over oil supply. While this may create expectations of lower oil prices, reduced uncertainty could be viewed positively for major energy companies like Exxon Mobil. Technical indicators point to oversold conditions (RSI at 25.4), indicating potential for a short-term rebound. However, the stock has lost 6.6% in the last 24 hours and the MACD is giving a sell signal, so any bullish outlook should be cautious. Overall, the positive impact of the news and technical recovery signals could lead to limited upside in the short term.

The news signals that a potential deal with Iran is approaching. This could reduce the geopolitical risk premium on oil supply, positively affecting energy stocks such as CVX in the short term. Technically, the RSI at 30.46 is near oversold territory, and the price fell 5.4% in the last close, increasing the potential for a rebound. However, the MACD remains below the signal line, and the price is trading below both the 20- and 50-day moving averages, suggesting any upside may be limited. Overall, a short-term upward move is possible, but confidence is moderate.