Copper and FCX Fall on Tariff Report and Rising Bond Yields

FCX has risen 5.28% in the last 24 hours and with an RSI of 55, it is not in overbought territory. However, the news headline indicates that the tariff report and rising bond yields are putting pressure on copper and FCX. MACD is in positive territory and slightly above the signal line, but momentum may weaken. The price is trading above the SMA20 and SMA50, which could provide some short-term support. Nevertheless, due to the news impact, a downward correction within 1-3 days is more likely. Confidence level is moderate, as technical indicators have not yet generated a clear sell signal.

Copper price fell 4.1% in 24 hours to 6,571, with RSI14 at 25 indicating oversold conditions. MACD is below the signal line and negative, suggesting weak short-term momentum. The price is significantly below SMA20 and SMA50, confirming the downtrend. The tariff report and rising bond yields may continue to pressure industrial metals. Although oversold conditions occasionally trigger bargain hunting, the news flow and technical outlook suggest that downside risks persist in the short term.

GLD is a gold ETF and is not directly affected by copper and FCX news; therefore, the impact of the news on GLD is limited and indirect. Rising bond yields are generally negative for gold, but the -1.13% decline in the last 24 hours and RSI at 46 indicate weak momentum. MACD is in negative territory and slightly below the signal line, suggesting that downward pressure may continue in the short term. However, the price's proximity to the SMA20 and SMA50 averages suggests no clear trend and a possible sideways movement. Overall, the news is not expected to create a clear direction for GLD; the 1-3 day outlook is neutral to slightly bearish.

SLV fell 4.16% in the last 24 hours to 64.48, and short-term momentum has weakened. Although RSI at 54.6 is in neutral territory, it is just above the MACD signal line and there is a risk of a bearish crossover. The tariff report in the news headlines and rising bond yields are putting pressure on commodities and precious metals, creating a negative outlook for SLV. The price is still above the 20- and 50-day moving averages, indicating that the medium-term trend has not deteriorated; however, selling pressure may continue in the short term. In the 1-3 day period, the probability of a downward move is higher, but it should be noted that the decline may be limited and the 60-62 band could act as support.