Iran's Parliament Speaker Qalibaf Issues Stern Warning to US

Although the news heightens the perception of geopolitical risk, its direct impact on copper is limited and indirect; Iran-US tensions are typically reflected through energy prices. The technical picture, however, is distinctly weak: the price is below the SMA20 and SMA50, MACD is negative, and RSI is around 20, in oversold territory. The oversold condition may set the stage for short-term rebound buying, but momentum remains downward. The news alone is not expected to be direction-determining; the 6.35-6.40 band should be monitored as critical short-term support.

Iranian Parliament Speaker Qalibaf's harsh warning to the United States could raise the geopolitical risk premium in the Middle East and create short-term upward pressure on Brent. However, the impact may remain limited because the news does not contain a concrete supply disruption or sanctions step. The price has fallen 3.6% in the last 24 hours to 106.3, with RSI at 47 in neutral territory and MACD below its signal line in negative territory, indicating a weak technical picture. The price is slightly above the SMA20 (105.5) but below the SMA50 (109.3), meaning there is potential for a short-term recovery, but the trend has not yet reversed. I forecast a moderate upward bias due to the geopolitical headline, but with low confidence; a sharp rally would require additional news flow.