Markets Recover After US-Iran Strikes; SK Hynix IPO Sees Strong Demand

WTI crude oil is trading at $73.67, with nearly zero change over the past 24 hours. The RSI stands at 50.85, indicating neutral territory, while the MACD remains below the signal line, reflecting weak momentum. Although the headline suggests easing geopolitical tensions, the price is trading just below the 20-day SMA of $73.93, and upside movement may remain limited unless this resistance level is broken. In the short term, further catalysts are needed to establish a clear direction.

Brent crude is trading at $78.36, up 0.56% in the last 24 hours. The RSI stands at 53.4, indicating neutral territory, while the MACD remains below its signal line, offering no clear short-term momentum signal. The price is just below the 20-day moving average ($78.44) but above the 50-day moving average ($76.94), suggesting medium-term support. News headlines note a market recovery following US-Iran strikes, but this appears to reflect broader risk appetite rather than a direct catalyst for oil prices. Combined with technical indicators, there is no strong expectation of a sharp move in either direction in the near term; the price is likely to fluctuate within the current range.

The news headline signals a market recovery following geopolitical tensions, which could boost short-term risk appetite. Technically, the RSI stands at 48.9 in neutral territory, while the MACD remains below the signal line in negative territory, though the gap is narrowing, indicating weak upward momentum. The price is trading below the SMA20 (7501) but close to the SMA50 (7481), suggesting an attempt to hold support levels. Overall, recovery expectations and technical supports offer limited upside potential in the short term, but the negative MACD warrants caution.