Trump: Iran Accepts Nuclear Inspections, Strait of Hormuz Open

The news indicates a reduction in geopolitical risks, which could exert downward pressure on oil prices. Technical indicators also point to weakness: the RSI is below 50, and while the MACD is below the zero line but above the signal line, momentum remains weak. The price is trading near the 20-day moving average but continues to stay below the 50-day average. In the short term, the downtrend is expected to persist, although the possibility of finding support at current levels should not be overlooked.

The news indicates a reduction in tensions with Iran and that the Strait of Hormuz will remain open, lowering the risk of supply disruptions. Technical indicators already reflect weak momentum: the RSI is neutral at 48, and while the MACD is below zero and shows a slight bullish tendency above the signal line, the overall outlook remains weak. The price is trading just above the 20-day SMA (73.85) but below the 50-day SMA (74.72), creating short-term resistance. The 1.47% decline in the last 24 hours suggests continued selling pressure. Therefore, a downward move can be expected in the short term, though the intensity of the decline may be limited.

The news indicates a reduction in geopolitical risks, which, while putting downward pressure on oil prices, could serve as a positive short-term catalyst for XOM stock. Technical indicators are approaching oversold territory (RSI at 41.5), and the MACD has begun to cross above its signal line, signaling a weak recovery. The stock is trading just below its 20-day moving average (138.70), and a close above this level could trigger a short-term upward move. However, the 50-day moving average (142.42) remains a significant resistance level, requiring a stronger catalyst to be breached.

The news indicates a reduction in geopolitical risks, which, while putting downward pressure on oil prices, could serve as a short-term positive catalyst for CVX stock. Technical indicators are signaling a recovery, with the RSI approaching oversold territory at 39.2 and the MACD above its signal line. However, the stock remains below its 20- and 50-day moving averages, suggesting upside may be limited. The recent 2.6% decline in the last close could partially offset the positive impact of the news.