Tasnim: Strait of Hormuz to Remain Closed Until Lebanon Ceasefire and Oil Exemptions

The continued closure of the Strait of Hormuz could increase the risk of oil supply disruptions, raising energy costs and creating a negative macro environment for technology companies. GOOGL shares have fallen 0.93% in the last 24 hours. While the RSI remains neutral at 53.6, the MACD is approaching a crossover below the signal line, indicating weakening momentum. Although the price is trading just above the 20-day SMA (367.64), geopolitical uncertainties could increase selling pressure in the short term. Therefore, a downward move is expected within the next 1-3 days.

The continued closure of the Strait of Hormuz could drive oil prices higher by intensifying supply disruption concerns. Technical indicators support this view: the RSI at 54 is in neutral territory but trending upward, while the MACD is above its signal line and positive. The price is trading above both the 20-day and 50-day moving averages. However, the upside may be limited as ceasefire and exemption news could weigh on prices in the near term.

The continued closure of the Strait of Hormuz could lead to a significant contraction in global oil supply, potentially pushing prices higher in the short term. Technical indicators support this upward move: the RSI at 52.5 is in neutral territory but shows upside potential, while the MACD has crossed above its signal line and entered positive territory. The price is trading above both the 20-day and 50-day moving averages, indicating a short-term uptrend. However, the upside may be limited due to uncertainty surrounding ceasefire and exemption news.

Although the continued closure of the Strait of Hormuz has heightened concerns over supply disruptions, Exxon Mobil (XOM) stock presents a technically weak outlook. The RSI is approaching oversold territory at 33, while the MACD remains below the signal line and in negative territory. The price is trading below both the 20-day and 50-day moving averages, having lost 2.6% in the last 24 hours. In the short term, the risk of sustained selling pressure is high, but the oversold conditions and geopolitical risks could trigger a potential rebound buying.