Oil Markets Bet on Trump's Retreat on Iran and Win

GOOGL shares recorded a strong 5.2% gain in the last session, closing at $374.72. The RSI stands at 66, not yet in overbought territory, while the MACD shows a positive outlook above its signal line. The news headline suggests that geopolitical developments in oil markets could lower energy costs, thereby creating a favorable macro environment for technology companies. Short-term upward momentum is expected to continue, but a potential short-term correction risk should not be overlooked if the RSI approaches 70.

The news headline indicates that oil prices are falling on expectations that Trump will step back on Iran. Technical indicators support this decline: the RSI is at 27, in oversold territory, the MACD is below its signal line, and the price is below both the 20-day and 50-day moving averages. The downtrend is likely to continue in the short term, but the oversold condition also suggests a possibility of some recovery.

The news headline indicates that oil prices are declining on expectations that Trump will step back on Iran. Technical indicators support this decline: RSI at 23.4 is in oversold territory, MACD is negative and below the signal line, and the price is below both the 20-day and 50-day moving averages. The 4.86% drop in the last 24 hours confirms strong selling pressure. The downtrend is expected to continue in the short term, though some buying on oversold conditions is possible.

The news could weigh on prices amid expectations of rising oil supply. XOM shares have fallen 6.3% in the last 24 hours, with the RSI dropping to 30, entering oversold territory. The MACD is below the signal line and in negative territory, indicating weak short-term momentum. Trading below the 20- and 50-day moving averages further darkens the technical outlook. The likelihood of a continued short-term downtrend is high.