Stagflation Fears Shake Markets as Oil Returns to $100

Although XOM shares have risen 5.4% in the last 24 hours, the RSI has entered overbought territory at 72.9. News headlines highlight stagflation concerns, which could increase risks to oil demand. In the short term, the combination of overbought technical indicators and macroeconomic uncertainties raises the likelihood of profit-taking. Therefore, a correction rather than a continued rally can be expected.

GOOGL shares experienced a sharp decline of 9.8% in the last trading session, with the Relative Strength Index (RSI) dropping to 20.7, entering oversold territory. The MACD indicator remains below the signal line and in negative territory, signaling weak short-term momentum. Stagflation concerns and rising oil prices could further pressure technology stocks. However, given the oversold conditions, a technical rebound is possible, so the bearish outlook is strong but not definitive.

Brent crude oil is trading at $91.89, down 0.83% in the last 24 hours. While the RSI at 38.16 approaches oversold territory, the MACD remains below the signal line and in negative territory, indicating continued short-term bearish momentum. The price is trading below both the 20-day (98.02) and 50-day (94.73) moving averages, presenting a technically weak outlook. Stagflation concerns highlighted in recent headlines may amplify expectations of demand-side weakness, putting further pressure on oil prices. The short-term downtrend appears likely to persist.

WTI crude oil closed at $89.53, declining 0.66% over the past 24 hours. The RSI has fallen to 41.66, dipping below the neutral zone and signaling short-term weakness. The MACD remains below the signal line, and although the SMA20 (91.47) is above the SMA50 (89.48), the price slipping below these moving averages increases selling pressure. Stagflation concerns highlighted in the news may amplify demand-side risks, exerting downward pressure on oil prices. The short-term downtrend is likely to persist.