Sharp Decline in U.S. Markets, Oil Prices Rise

Brent crude rose 2.4% over the past 24 hours to 96.86 and is holding above its SMA20 (95.38), indicating positive short-term momentum. However, the price remains below the SMA50 (99.16) and the MACD is in negative territory below its signal line, implying the rally is not yet a trend reversal. The RSI at 49.7 is in neutral territory, with no overbought or oversold pressure. While sharp declines in US equities are weakening risk appetite, oil's rise appears partly driven by geopolitical and supply factors; this divergence paints a mildly positive but fragile picture for the commodity in the short term. I expect a moderate upward bias over the next 1-3 days, with 95.4 as critical support and 99.2 as critical resistance.

XOM fell 7.5% in the last 24 hours, coming under heavy selling pressure, and is trading significantly below its SMA20 and SMA50. Although the RSI at 33 is approaching oversold territory, it has not yet produced a reversal signal; the MACD is in negative territory and below its signal line, with weak momentum. While the rise in oil prices provides partial support for the energy sector, broad market selling and deteriorating risk appetite appear dominant in the short term. Due to oversold conditions, there is a possibility of rebound buying; therefore, the direction is downward but confidence should be kept at a moderate level. A weak outlook and possible volatility are expected in the 1-3 day view.

CVX declined 6.4% over the past 24 hours to 217.7, with its RSI at 34.5 approaching oversold territory. The MACD is below its signal line and remains in negative territory; the price is below both SMA20 and SMA50, indicating a weak short-term trend. While the sharp selloff in US equities cited in the news headline weighs on risk appetite, rising oil prices may provide partial support for energy stocks. Although these two effects offset each other, overall market selling pressure and the weak technical picture increase downside risk in the short term. Nevertheless, oversold conditions keep the possibility of rebound buying after the sharp decline alive, so confidence should be kept at a moderate level.