Copper Stocks Plunge Sharply on Tariff Uncertainty

FCX declined 2.38% amid news of tariff uncertainty for copper stocks, with its RSI approaching oversold territory at 30.67. The price is trading below its 20-day and 50-day moving averages, indicating a weak short-term outlook. The MACD is in negative territory and below its signal line, but oversold conditions increase the possibility of a limited rebound. If uncertainty in the news flow persists, downward pressure may continue; however, some of the decline may already be priced in. I expect a volatile and slightly downward-biased trend in the short term.

SCCO stock is already showing a weak technical picture amid news of tariff uncertainty impacting copper shares. Although the RSI at 31.9 approaches oversold territory, the MACD is below its signal line and the price is significantly below its 20- and 50-day moving averages. The last close was $196.41, down 1.55% in 24 hours. The uncertainty created by the news could increase selling pressure in the short term, but oversold conditions also bring the possibility of a limited rebound. Nevertheless, the overall trend is downward and the 1-3 day outlook is negative.

Copper prices fell 4.3% in 24 hours to 6.5563, with RSI14 at 24.1 indicating oversold conditions. MACD is negative and below the signal line, and the price is trading well below SMA20 and SMA50, suggesting a strong short-term downtrend. Tariff uncertainty headlines could heighten demand concerns for industrial metals and fuel selling pressure. However, oversold conditions may lead to short-term rebound buying; nevertheless, the overall outlook remains bearish. Over the 1-3 day horizon, the downtrend is expected to continue, but volatility is likely to remain high.

BHP shares fell 5.26% in the last 24 hours to 87.84, with RSI14 at 28.8 approaching oversold territory. MACD is below the signal line and in negative territory, and the price is trading well below the 20- and 50-day moving averages, indicating that the short-term downtrend may continue. The sharp decline in copper stocks due to tariff uncertainty in the news headlines stands out as a fundamental pressure factor. However, the possibility of the decline slowing due to oversold conditions and potential bargain hunting should not be ignored. Therefore, I assess that downside risk remains in the 1-3 day horizon, but volatility could be high.