Pentagon signs oil deal with Venezuelan billionaire under US money laundering investigation

The news headline is viewed as a geopolitical development rather than a company-specific event directly impacting GOOGL. However, such news can cause short-term fluctuations in energy prices and overall market risk appetite. Technical indicators already present a weak outlook: RSI at 46 is in neutral territory, MACD is below the signal line, and the price is below both the SMA20 and SMA50. Therefore, the likelihood of the news creating additional selling pressure is low, but given the current downward momentum, a slight decline may be expected in the short term. Still, the impact could remain limited, as company fundamentals are solid and the news has no direct connection.

The news points to US steps toward an oil deal with Venezuela, which could increase geopolitical risks on the supply side. Technically, the RSI is in neutral territory at 56, the MACD is above its signal line, and the price is above the SMA20 and SMA50, supporting short-term positive momentum. However, since the news does not include a clear supply cut or increase, the impact may be limited. Therefore, the likelihood of an upward move is seen as moderate.

Although the headline points to a potential oil deal between Venezuela and the US, uncertainty persists due to a money laundering investigation. Technical indicators are sending mixed signals: RSI is in neutral territory, MACD is negative but approaching its signal line, and the price sits just above the SMA20 and SMA50. This suggests a higher likelihood of sideways movement rather than a strong directional move in the short term. If the news creates expectations of increased supply, prices could face downward pressure, but geopolitical risks may also provide support. Therefore, it is safer to remain neutral rather than predict a clear direction.