US Official: Iran Could Start Selling Oil Immediately After Signing Deal

The news creates expectations that sanctions on Iran may be eased and oil supply could increase. This could lower energy costs, providing a positive macro environment for technology companies. GOOGL shares recorded a strong 5.66% gain in the last close, with an RSI of 61, maintaining an upward trend without entering overbought territory. The MACD line is above the signal line and in positive territory, indicating continued short-term momentum. The price is trading above the 20- and 50-day moving averages, supporting the bullish trend. However, I am not highly confident as the news does not directly affect GOOGL and the market may have already priced in this development.

The news indicates that Iran could quickly return to oil supply, potentially heightening oversupply concerns. Technical indicators also support the bearish outlook: the RSI at 31.7 is near oversold territory but has yet to signal a recovery, while the MACD line remains below the signal line and in negative territory. The price is trading below the 20- and 50-day moving averages, pointing to short-term weakness. The 4.8% decline over the past 24 hours suggests continued selling pressure. However, the oversold zone and the possibility that the news has already been priced in suggest that the downside may be limited.

The news indicates that Iran could quickly return to oil supply, and this expectation of increased supply may put pressure on prices. Technical indicators already present a weak outlook: the price is below both the 20-day and 50-day moving averages, the RSI at 31 is near oversold territory but has not yet signaled a recovery. The MACD line is below the signal line and in negative territory, confirming downward momentum. The 6.4% decline in the last 24 hours also shows continued selling pressure. In the short term, the downtrend is likely to persist, but some consolidation or a slight upward correction may be expected due to oversold conditions.

The news indicates that Iran's return to oil supply is imminent, which could create downward pressure on oil prices. Although XOM shares have fallen 4.4% in the last 24 hours and the RSI at 37 is approaching oversold territory, the MACD remains in negative territory and below the signal line. The short-term outlook continues to be weak, and the downtrend is likely to persist for some time.