Codelco Targets $2 Billion Gain by Merging Copper Mines in Chile

The news reflects a major producer's plan to reduce costs and increase efficiency, which could be perceived as a positive signal on the supply side. Although the RSI is approaching overbought territory at 71, the MACD remains in a buy signal, and the price is trading above both the 20-day and 50-day moving averages. Short-term upward momentum may continue, but there is a risk of a potential correction due to overbought conditions. Therefore, while the direction is upward, confidence is maintained at a moderate level.

Although the news signals potential consolidation and cost reduction in copper supply, FCX shares fell 3.8% in the last session, with the RSI at 48.6 in neutral territory. The MACD remains negative but is approaching the signal line, indicating weak recovery potential. The price is just above the 20-day moving average but below the 50-day moving average, creating short-term directional uncertainty. The impact of the news may become clearer within a few days, depending on the overall supply-demand balance in the sector.

Although SCCO shares fell nearly 2% in the last close, the RSI is hovering near 50 and is not in oversold territory. The MACD line is above the signal line in a positive position, but still in negative territory. The news involves a cost-reduction plan by a sector competitor, which may create expectations of cost discipline across the sector rather than serving as a direct catalyst for SCCO. In the short term, the price may find support at its 20-day moving average of 171.45 and encounter resistance at its 50-day moving average of 179.47. Therefore, waiting for more signals to determine a clear direction would be prudent.