Iran Attacks Tanker in Strait of Hormuz, Two Tankers Change Course

The attack in the Strait of Hormuz could increase geopolitical risks, raising energy costs and creating uncertainty in global markets. GOOGL shares are already in a technically weak position, with the RSI near oversold territory at 31.4, the MACD below the signal line, and the price trading below both the 20-day and 50-day moving averages. This negative news may amplify selling pressure, accelerating a short-term decline. However, the low RSI also suggests some potential for a rebound, limiting the downside.

The news could increase the geopolitical risk premium, pushing Brent oil prices higher. Technical indicators support this view: the RSI is trending upward at 63, the MACD is above its signal line, and the price is above both the 20-day and 50-day moving averages. The 4.5% gain in the last 24 hours indicates the market is reacting quickly to this development. However, as the extent of the supply disruption is not yet clear, overly bullish expectations could be risky. The upward movement is expected to continue in the short term, but the 98-100 dollar resistance zone may be tested.

The news that Iran attacked a tanker in the Strait of Hormuz and forced two tankers to change course has increased geopolitical risks. This has fueled concerns about short-term disruptions in oil supply, potentially driving WTI prices higher. Technical indicators also support the upward trend: the RSI at 65.8 is approaching overbought territory, but momentum remains strong, with the MACD above the signal line and the price trading above both the SMA20 and SMA50. However, the elevated RSI level and the 3.7% price increase over the last 24 hours also bring a risk of a short-term correction. Therefore, while the upward trend is strong, I foresee an upward expectation with medium-high confidence, avoiding excessive aggression.

The attack in the Strait of Hormuz increases the risk of oil supply disruptions, potentially driving oil prices higher. Although XOM's RSI is in overbought territory at 79, geopolitical risks could support short-term momentum. The MACD line is above the signal line and in positive territory, confirming a bullish trend. The price is trading above both the 20-day and 50-day moving averages, indicating a strong technical structure. However, overbought conditions and high volatility suggest that the upside may be limited.