Chevron, ONGC, and GE Vernova Set to Sign Final Agreements in Venezuela

Reports indicate that Chevron is preparing to sign new agreements in Venezuela, which could expand the company's international operations. Technically, while the RSI at 64 approaches overbought territory, the MACD remains positive and above its signal line, suggesting that short-term momentum could continue. The price is trading above both the SMA20 and SMA50, with a 2.6% increase over the last 24 hours, reflecting strong buying interest. However, caution is warranted due to the unconfirmed nature of the news and geopolitical risks; therefore, the outlook is bullish but with a moderate confidence level. In the short term, resistance in the 205-210 range may be tested, but investors should be wary of potential profit-taking.

While the news may signal a positive development regarding GEV's potential increased involvement in Venezuela's energy projects, technical indicators point to strong selling pressure in the short term. The RSI is in oversold territory at 26, the MACD is negative, and the price is below both the 20-day and 50-day moving averages. The 3.7% decline over the last 24 hours indicates weak momentum. The news could create uncertainty as it may increase geopolitical risks, but the technical picture supports a bearish trend in the short term. Therefore, from a 1-3 day perspective, the probability of the price falling appears higher.

GOOGL shares have declined 2.3% over the past 24 hours, with the RSI at 39.5 indicating weak momentum. The MACD line is below the signal line and in negative territory, confirming a short-term bearish trend. The price is trading below the 20-day and 50-day moving averages, which paints a negative technical picture. Although the news headline is not directly related to GOOGL, a reduction in overall market risk appetite could weigh on the stock. In the short term, the price may find support in the $335-$338 range, but upside movements could remain limited.