Ukraine Proposes Ceasefire with Russia in the Black Sea Amid Rising Food Supply Concerns

The news headline points to rising geopolitical risks, which could negatively impact overall market sentiment. GOOGL shares have lost 2.24% in the last 24 hours, with RSI at 44.6 indicating weak momentum. MACD values are in negative territory and below the signal line, suggesting that the short-term downtrend may continue. The price is trading below the 50-day moving average (353.86) but remains near the 20-day average (345.22), a level to watch as support. Geopolitical uncertainties and weak technical indicators increase the likelihood of downward movement in the stock in the coming days.

The ceasefire proposal could create downward pressure on Brent as it may reduce geopolitical risk. Technical indicators are weak: RSI is near the oversold zone at 41.5, MACD is below the signal line, and the price is below both the SMA20 and SMA50. In the short term, the bearish trend may continue, but food supply concerns could provide support on the supply side. Therefore, rather than expecting a sharp decline, a limited pullback is more likely.

The news highlights that the ceasefire proposal in the Black Sea has heightened food supply concerns, which could escalate geopolitical risks and increase volatility in the energy market. However, technical indicators already present a weak outlook: RSI is near the oversold territory at 41.76, MACD is negative and below the signal line, and the price is trading below both the SMA20 and SMA50. A decline of 1.83% over the last 24 hours confirms short-term downward momentum. While the news raises the risk of supply disruptions, the current technical structure and price action suggest that the downtrend may continue. Therefore, a downward movement is expected in the short term (1-3 days), but the possibility of a sudden upward reaction due to geopolitical developments should not be overlooked.