Nio stock price has pulled back in the past few months, moving from a high of $8 in October to the current $6. It has dropped below 24% from the year-to-date high, bringing its market capitalization to $12 billion from $15.35 billion in October.

Nio’s business is doing well as demand rises

Nio, a top Chinese electric vehicle company, is doing well as demand for its cars remains high. It has also performed well after launching other brands like ONVO and FIREFLY that have become highly popular in China. 

The most recent numbers showed that Nio’s vehicle deliveries jumped by 92.6% in October to 40,397. This growth brought its total deliveries in the third quarter to 241,618, up by 42% from the same period last year. Nio has now sold over 913,000 vehicles since its inception, meaning that it may hit the important 1 million milestone soon. 

These growth metrics are notable for a company that has been in business since 2014. Most of this growth came from its ONVO brand, which is now selling about 10,000 vehicles a month. 

Still, a major challenge for Nio is that its strong delivery growth has not translated to its revenue momentum. The most recent results showed that the company’s revenue rose by just 9% in the second quarter, even as its deliveries jumped by 25%. 

A likely reason for this is that it has increased its discounts as competition in the country jumps. This competition is coming from top companies like BYD, Geely, Chery, and SAIC. A good example of this is XPeng, its rival, which published strong results but issued a weaker-than-expected guidance.  

Nio earnings ahead

The next key catalyst for the Nio stock price will be its earnings, which will come out next week.

These results are expected to show that its revenue rose by 19% in the last quarter to 22.2 billion yuan as its vehicle sales continued growing. 

Most importantly, the company’s earnings-per-share will be a loss of 1.6 yuan, an improvement from the 2.14 yuan it made in the same period last year.

The most important catalyst for the stock will be its guidance, which will shed more color on the impact of competition in China that has affected other companies like Xpeng and BYD.

Analysts predict that Nio’s fourth quarter revenue will be 89 billion yuan, up by 36% from the 65.6 billion yuan it made last year. It will then make 127 billion yuan next year, representing solid growth.

The main risk for investing in Nio is that the company has a long history of losing money, which has led to more dilution. Its recent dilution happened in September when the company raised $1.6 billion, which it plans to use for research and development.

Nio stock price technical analysis 

The daily timeframe chart shows that the Nio share price has retreated in the past few weeks, moving from the year-to-date high of $8 to the current $6.

A closer look shows that the stock has formed a head-and-shoulders pattern, a common bearish reversal signs. This pattern has a close resemblance with a double-top.

It has moved below the 50-day and 25-day Exponential Moving Averages (EMA) and the Major S/R pivot point of the Murrey Math Lines.

Therefore, the most likely scenario is where the stock continues falling, potentially to the strong, pivot, reverse level of the Murrey Math Lines at $4.70. A move above the resistance level at $7 will invalidate the bearish outlook.

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Baidu stock price has come under pressure in the past few weeks, moving from the year-to-date high of $150 in October to the current $113. This pullback has brought its market capitalization from ~$50 billion to ~$40 billion today. So, will the stock rebound after its earnings later on Tuesday?

Why Baidu stock price slipped

Baidu is the biggest search engine provider in China, the biggest country by population, with a 63% market share and over 735 million monthly active users.. Like Google, the company offers numerous services, with search being its core solution.

In addition to search, the company offers others services like video, maps, streaming, and Ernie, its AI chatbot that has become highly popular in China.

Baidu stock price has pulled back in the past few months as concerns about its advertising growth have remained. The most recent results showed that revenue from Baidu Core dropped by 4% to RMB 26.3 billion or $3.6 billion. Its advertising business pulled back by 15% and was offset by a 34% increase of its non-online marketing revenue.

This weakness is a sharp contrast to that of Google, which reported strong advertising revenue in the most recent quarter. One reason for Baidu’s ad revenue slowdown could be that most of its search results have been replaced by AI-generated content. 

iQIYI, another of Baidu’s core businesses, also reported weak results, with the revenue dropping by 11% to $926 million. At the same time, the company’s AI spending affected its profits as the cost of revenue rose by 12%. Its net income dropped to 5.5 billion yuan from the previous 7.8 billion yuan.

Baidu earnings ahead

The next important catalyst for the Baidu stock price will be its earnings, which will come out on Tuesday. Wall Street analysts expect the upcoming results to show that its revenue dropped by 7.95% in the last quarter to CNY 30.8 billion. The most optimistic analyst expects its revenue to come in at CNY 33.8 billion.

Most importantly, analysts believe that Baidu’s earnings-per-share will come in at CNY 8.37, down from CNY 16.6. For the year, analysts believe that its total revenue will be CNY 129.26 billion, down by 2.9% from what it made last year. 

Baidu stock will also react to its progress on other areas like robotaxi and autonomous vehicles. Its Apollo Go solution has already entered a multi-year partnership with Uber Technologies, the biggest ride hailing service. It also entered an agreement with Lyft, and is now testing its service in areas like Hong Kong, Dubai, and other cities. 

The upcoming results will also shed more light on the company’s recently launched M100/M300 chips. It hopes that its chips will ultimately match those made by American companies.

BIDU stock price technical analysis

The daily timeframe chart shows that the BIDU stock price has come under pressure in the past few weeks, moving from a high of $150 to $114 today. This decline was mostly because of its relatively weak results and guidance.

Baidu stock has moved to the top of the trading range of the Murrey Math Lines tool. It also bottomed at the 50% Fibonacci Retracement level.

Baidu shares have moved below the 50-day and 25-day Exponential Moving Averages (EMA). It has also moved slightly below the important support level at $116, its lowest level on October 22nd.

Therefore, the most likely scenario is where the Baidu stock price continues falling, potentially to the psychological level at $100. This target coincides with the 61.8% Fibonacci Retracement level.

On the other hand, a move above the strong pivot reverse point at $125 will invalidate the bearish Baidu stock forecast.

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The South African rand remained under pressure this week, even after the recent credit rating upgrade and the growing optimism about the country. The USD/ZAR exchange rate was trading at 17.20, a few points above the year-to-date low of 16.95. It remains about 13.75% below the highest point this year. 

South African Rand wavers as experts remain optimistic about the economy

Top economists are highly optimistic that the South African economy is doing modestly well. This optimism rose after Enoch Godongwana, the Finance Minister, delivered an optimistic budget. 

He said that the country would have higher revenues with no tax increases. At the same time, the minister said that the government was committed to fiscal consolidation.

Most importantly, the bank announced a new inflation target. While concuring with the South African Reserve Bank (SARB), the minister said that the government would target a 3% inflation rate instead of the band between 3% and 6%. 

South Africa’s economy is also doing well because the concept of load-shedding has eased in the past few months. Load-shedding is a situation where parts of the country experienced long power blackouts because of Eskom problems. 

Top South African analysts are bullish about the economy, with some of them calling it an inflection point. Emrie Brown, a top analyst at RMB Bank said:

“All of that really for me points towards a permanent inflection point and that we’ve reached a positive trajectory. I definitely think the sentiment is the most positive I have seen in two decades. It’s really big.”

South Africa credit rating upgrade

Meanwhile, S&P Global, one of the top ratings agency, has upgraded the country for the first time. It moved the rating by one level to BB, two steps below investment grade. The agency also left the country’s outlook to the positive zone.

S&P Global upgrade sets the stage for other agencies to follow suit. Moody’s will publish its statement on South Africa on December 5, while Fitch will deliver its statement by March next year. Goldman Sachs analysts said:

“In our view, it is also likely that Fitch will upgrade its sovereign rating for South Africa to BB by March 2026, which would bring it in line with S&P and Moody’s.”

These statements come at a time when most South African assets are doing well. For example, bond yields have plummeted, with the closely-watched 10-year yield moving to 8.60% from the year-to-date high of 11.27%. Similarly, South Africa’s stock market has also jumped by 45% in dollar terms this year. 

Rand has soared by over 10% in 2025 despite the ongoing geopolitical tensions with the United States. Trump has imposed a 30% tariff on goods from South Africa, the highest in sub-Saharan Africa.

USD/ZAR technical analysis 

The daily timeframe chart shows that the USD/ZAR exchange rate has been in a strong downward trend in the past few months, moving from a high of 19.93 in April to the current 17.20.

The pair has remained below the 50-day and 100-day Exponential Moving Averages, a sign that bears remain in control. It has also formed a small head-and-shoulders pattern.

Therefore, the most likely scenario is where the pair continues falling, potentially to the year-to-date low of 16.95. A move below that level will point to more downside, potentially to the psychological level at 16.0.

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The FTSE 100 Index remained under pressure this week, continuing a downtrend that started late last week when it jumped to a record high of £9,935. It has dropped in the four consecutive days and is now at the lowest level since October 23. It remains about 26% above its lowest level in April.

FTSE 100 Index falls as UK Gilt yields jump

One potential catalyst for the ongoing FTSE 100 Index plunge is that UK gilt yields are rising ahead of the upcoming Rachel Reeves budget statement. 

The ten-year bond yields rose to 4.60%, up from this month’s low of 4.370%. Similarly, the 30-year yield rose to 5.40% from last week’s low of 5.150%. 

UK bond yield have rebounded even as a Reuters poll found that the Bank of England (BoE) will cut interest rates despite the rising inflation rate. The poll ound that the bank will cut rates in December and earlier next year. 

Analysts expect the bank to cut rates by 0.25% to 3.75% in December and 3.50% in January. One analyst noted that:

“We see a December rate cut as the default action, ‌absent any wildly hawkish surprises in the next two inflation prints. The October and November inflation prints, alongside signs of a softening jobs market, will be the final green light to a cut.”

UK stocks plunge mirrored the performance of other global indices

The FTSE 100 Index also retreated as part of the ongoing global stock market plunge. Data shows that the Dow Jones and Nasdaq 100 indices dropped by over 1% on Tueday, while the S&P 500 fell by 0.82%.

The Nasdaq 100 Index has plunged by over 6% from the year-to-date high. Also, the S&P 500 has moved downwards by over 4% from the highest level in October. 

The DAX Index has slumped to 23,180 euros, down by 6.40% from the year-to-date high. Other European indices like the CAC 40, Euro Stoxx, AEX, IBEX 35, and FTSE MIB declined by over 1.5% on Tuesday. It is common for global stocks to retreat in sync. 

One reason for the sell-off is that investors are bracing for the upcoming Nvidia earnings. These will be closely-watched results because the company is one of the most important ones during the ongoing AI cycle. 

Strong financial results will likely lead to more gains in the stock market because they will point to AI momentum. On the other hand, weak results or guidance will be bearish for American and European equities.

The FTSE 100 Index is also pulling back as investors book profits. Indeed, some of the top laggards this week, like HSBC, Barclays, 3i, and Ashtead, were some of the top gainers.

FTSE 100 Index technical analysis 

The daily timeframe chart shows that the Footsie Index has jumped in the past few months, moving from a low of £7,545 in April to £9,935. It has pulled back to the current £9,550. 

The index has remained above the 50-day and 100-day Exponential Moving Averages (EMA). It also retreated below the top of trading range of the Murrey Math Lines tool. 

Therefore, the most likely scenario is where it drops to the Major S/R pivot point at £9,375. It will then rebound, and possibly retest the year-to-date high of £9,935.

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The DAX Index has pulled back in the past few months as the recent momentum in global stocks pulled back. It dropped to a low of €23,180, its lowest level since June 22, and is hovering at its lowest level since June 23rd. This article explores some of the top companies dragging the index.

Adidas is the top laggard in the DAX Index

Adidas, the biggest rival to Nike, has become the top laggard in the DAX Index. It has plunged by over 40% from its highest point in February and is now hovering at its lowest level since October 2nd. 

Adidas shares have dropped by 20% in the last 30 days, even as it published encouraging results recently. It operating profit rose by 23% in the third quarter to €736 million, while the net income soared by €485 million. 

Adidas stock has plunged as other companies in the industry, like Nike, Under Armour, and Lululemon, have all retreated. Similarly, newer brands like On Holding have also retreated in the past few days.

Zalando shares have plunged this year

The other top laggard in the DAX Index is Zalando, one of the top online fashion and lifestyle platforms. It has a market cap of over €5.95 billion, much lower than its all-time high.

Zalando share price has dropped because of the ongoing challenges in European retail sector. Its most recent results showed that its GMV jumped by 6.5% to €3.49 billion, while its revenue jumped by 7.9% to €2.4 billion. 

The results also showed that the number of active customers rose to 52.4 million from the 49.5 million it had in the same period last year. Most importantly, the company reaffirmed its forward guidance and expects its revenue to rise between 4% and 9%.

READ MORE: Baidu stock price is in a bear market: will it rebound after earnings?

Scout24 crash gains steam

The other top laggard in the DAX Index is Scout24, a company that runs ImmoScout24. Scout24 stock has plunged to a low of €86.65, down by nearly 30% from its highest point this year. 

Scout24 stock has dropped despite publishing strong financial results. Its third-quarter revenue rose by 15% to €165 million, while its net income jumped to €101.5 million. The management also narrowed the guidance to the upper side of the range, even as it warned on global uncertainties.

Other top laggards in the DAX Index in the past 30 days were companies like Fresenius Medical Care, Siemens Healthineers, Symrise, SAP, and Deutsche Telekom. 

On the other hand, the top gainers in the index are firms like Deutsche Post, RWE, Heidelberg Materials, Mercedes-Benz, BMW, Porsche, and Commerzbank. 

DAX Index technical analysis 

The daily timeframe chart shows that the German DAX Index has pulled back in the past few months. It has dropped from the year-to-date high of €24,778 in October to the current €23,200.

The index has moved below the important support level at €23,328, its lowest level in September. This price was also along the neckline of the double-top pattern.

The index has also moved below the 23.6% Fibonacci Retracement level at €23,230. It also dropped below the 100-day Exponential Moving Average (EMA), a sign that bears are in control.

Therefore, the most likely scenario is where it continues falling, with the next point to watch being the 50% retracement level at €21,600. A move above the 100-day moving average at €23,840 will invalidate the bearish outlook.

READ MORE: Here’s why the FTSE 100 Index is crashing this week

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The Adidas share price has been in a strong downward trend in the past few months, making it the top laggard in the DAX Index. It plunged to a low of €153.90, down by over 41% from its highest point this year. This crash has brought its market cap from a peak of €47 billion to the current €27 billion. 

Adidas stock crash has made it a bargain

Adidas share price has plunged in the past few months, making it one of the top laggards in the DAX Index. This crash happened even as the company published strong financial results recently. 

These numbers showed that the company was doing well. Its Brand adidas revenue grew to a record level of €6.6 billion in the third quarter of the year. This growth happened across its markets, divisions, categories, and channels. 

Most importantly, the company’s operating profit jumped by 23% to over €736 million. At the same time, the company’s revenue rose by 9% in the first nine months of the year. 

The management also boosted its guidance, moving the EBIT range from between €1.7 billion and €1.8 billion to about €2 billion. 

Therefore, the Adidas share price is falling as investors anticipate slow growth amid Donald Trump’s tariffs and weaker margins over time. However, the management has executed well and is seeing results. As such, while its North American business deteriorated by 5%, it offset this by its growing in Europe, Latin America, and Emerging markets.

For example, its footwear revenue jumped by 11% in the last quarter, as it continued to gain market share in areas like running, football, and training.

The company’s business also benefited from the apparel business whose revenue rose by 16%. This growth was offset by the performance in the accessories segment, which dropped by 1% during the quarter.

Meanwhile, the ongoing Adidas stock price crash has left behind a bargain in plain site. Data shows that the company has a forward PE ratio of 20, slightly lower than the S&P 500 estimate of 23.

Most importantly, the valuation multiple is much lower than that of Nike, which has a forward PE multiple of 37. It is also much lower than On Holdings’ 61.

Adidas stock has another catalyst in that the World Cup is coming up in June next year. Historically, Adidas and Nike do well in the World Cup year.

Adidas share price technical analysis 

Adidas stock chart | Source: TradingView

The weekly timeframe chart shows that the Adidas share price has been in a strong downward trend in the past few months, moving from the year-to-date high of €261 in February to the current €153.

Adidas has moved below the important support level at €160, its lowest level in August this year. It has also moved below the 61.8% Fibonacci Retracement level at €156.80.

The stock formed a death cross pattern as the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other. Also, it has continued to form a series of lower lows and lower highs. 

Adidas also remains below the Ichimoku cloud and the Supertrend indicators. Therefore, the stock will likely continue falling in the near term. If this happens, the next key support level to watch will be at €140. In the future, however, there is a likelihood that the stock will bounce back as investors buy the dip. If this happens, the next key resistance level to watch will be the psychological level at €200.

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The XRP price remained under pressure in the past few months as investors dumped Bitcoin and most altcoins. Ripple dropped below $2.20 on Wednesday, down sharply from the year-to-date high of $3.6565. So, is it safe to buy the dip as XRP ETF inflows rise?

XRP ETF inflows are continuing 

The XRP price has retreated in the past few months despite some notable news in the network. The most important news was the recently-approved Canary XRP ETF (XRPC), which has become one of the most successful launches this year. Its first-day volume was the highest one this year, and its inflows have remained at an elevated level. 

The most up-to-date data shows that the XRPC ETF has already had over $276 million in cumulative inflows and has over $277 million in net assets. This growth is notable as the fund has already passed the REX-Osprey XRP ETF, which has over $125 million in assets.

More XRP ETFs will likely be approved this week, a move that will likely lead to more inflows since these ones are run by more popular companies like Invesco and Franklin Templeton.

READ MORE: Here’s why the XRP price is crashing as XRPC ETF inflows soar

Top Ripple news

XRP has also had some notable news events in the past few weeks. For example, the developers hosted the Rippe Swell event that had some notable announcements. The most important one was that Ripple Labs received a $500 million investment at a $40 billion valuation. 

Citadel and Fortress made the investment, which is expected to make it easy for the company to continue its expansion. The investment came at a time when Ripple Labs had been making some notable moves to boost its growth. 

Ripple Labs acquired Hidden Road, creating Ripple Prime. It recently bought GTreasury, a company that helps institutions manage their treasuries. Additionally, Ripple bought Rail, a company involved in the stablecoin payment industry.

The other crucial Ripple news recently is the ongoing growth of Ripple USD (RLUSD), which has now crossed the $1 billion asset mark. Over a third of its assets are in the XRP Ledger, which is a good thing. 

The main reason why the XRP price has underperformed despite this positive news is because of the ongoing crypto market crash that has affected all coins. Bitcoin has plunged from the all-time high off $126,300 to $90,000, while the market cap of all tokens slumped by over $1.2 trillion. 

XRP price technical analysis

The daily timeframe chart shows that the XRP price has been in a strong downtrend, moving from the year-to-date high off $3.6 in July to $2.2 today. 

It has dropped below the 38.2% Fibonacci Retracement level and formed a death cross pattern. A death cross happens when the 50-day and 200-day Exponential Moving Averages (EMA) cross each other. 

On the positive side, the coin has formed a triple-bottom pattern at around $2.05. This pattern is often a bullish reversal sign. Therefore, there is a slim chance that the XRP price will bounce back as long a it remains above the triple-bottom level. A drop below the triple-bottom level will point to more downside, with the immediate target being last month’s low of $1.7662.

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Wix’s stock price has crashed to a bear market this year, as it has crashed by over 48% from its highest level this year, as concerns about its growth and the emerging competition rise. It was trading at $126 on Wednesday, with its market capitalization remaining at $7 billion, down from the year-to-date high of $13 billion.

Wix growth is continuing 

Wix is a top company that helps users create websites without doing any coding. It operates in a highly competitive industry, where it competes with popular companies like Squarespace, Weebly, and WordPress.

Most recently, the company’s business has come under pressure as newer firms emerged that are helping people build their websites and applications by just description. 

One of these companies is Lovable, which crossed the $200 million revenue mark this week and is considering raising money at a a $6 billion valuation.

Wix has moved into the industry by buying Base44, a similar company in a deal worth $80 million. In a recent statement, the company said that it has over 2 million users and will generate $50 million ARR by the end of this year and $100 million by 2026. The CEO said:

“With Base44, we’re extending this mission by bringing the next generation of AI and natural-language development to applications. This is the next phase in the evolution.”

The most recent numbers showed that the company’s revenue rose by 14% to $505 million in the third quarter, with its creative subscriptions rising by 12% to $356 million. Its business solutions revenue rose by 18% to $149 million.

Wix now expects that its revenue will continue rising this year and will be between $1.99 billion and $2 billion. The average estimate among analysts is that its annual revenue will be $1.99 billion.

However, the company expects that its costs will be higher as it ramps up the performance of Base44.

Is Wix cheap or expensive?

A common question is on whether Wix is a bargain or highly expensive as its growth slows and competition rises. Data compiled by SeekingAlpha shows that the forward price-to-earnings (P/E) ratio is 18, ower than the sector median of 23. 

Wix has a PEG ratio of 0.36, much lower than the sector median of 0.96. Also, its forward EV to EBITDA multiple is 16, lower than the median estimate of 19. 

One of the best ways to value a company like Wix is known as the Rule of 40. This is an approach that looks at a company’s revenue growth and its profit margins. 

In this case, the company’s forward revenue growth metric is about 14%, while its profit margin is about 8.90%. This gives it a rule-of-40 multiple of about 22%, making it a bit overvalued.

Wix stock price technical analysis

The weekly timeframe chart shows that the Wix share price has remained under pressure in the past few months. It has moved from a high of $248 in January this year to the current $126. 

Wix has moved to the 61.8% Fibonacci Retracement level at $127. It also moved below the 50-week and 200-week Exponential Moving Averages (EMA).

However, the stock has formed a head-and-shoulders pattern, which is a common bearish sign in technical analysis. Therefore, the stock wil likely continue falling as sellers target the key support at $100. 

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GLD gold price is set for its first weekly gain after three weeks of losses. This is despite the global sell-off that has cut across the major asset classes. While the US government reopening will lead to the release of crucial economic data, the market doubts of a Fed rate cut before the end of the year.

Nonetheless, a weaker US dollar and persistent economic uncertainties have held gold price above the support zone of $4,100 an ounce. At the time of writing, the bullion was trading at $4,179. 

Global sell-off stalls gold price uptrend

On Wednesday, President Trump signed the funding bill into law; ending the longest US government shutdown on record. Market participants now expect a flow of the delayed economic data, while some figures may not see the light of day. 

The messy economic calendar, doubts over the Fed’s interest rate cuts, and the global sell-off has curbed gold price rallying. These factors are also weighing on cryptocurrencies, the US dollar, and US stock market. Indeed, the market’s reaction to the US government reopening is a classic case of “buy the rumour, sell the news”. 

During the 42-day US government shutdown, investors bet that the economic figures released after the reopening would show a slowing job market. This would in turn push the US central bank to announce at least one more rate cut before the end of the year. However, financial markets are now doubting that the Fed will approve a rate cut during its next meeting in December.   

In the last Fed interest rate decision, Jerome Powell indicated that further rate cuts this year are not guaranteed. In addition to the absence of crucial economic data, woes over inflation have some Fed officials hesitant about further monetary policy easing.

Ordinarily, gold price thrives in an environment of lower interest rates. However, a weaker US dollar and persistent economic uncertainties are supporting the precious metal’s uptrend. 

GLD gold price technical analysis

The GLD gold ETF hit a fresh three-week high earlier on Friday before easing slightly to $382.87 as at the time of writing. The derivative looks set for a weekly gain after three consecutive weeks in the red. 

A look at its daily price chart shows the asset still trading above the 25 and 50-day EMAs. In the ensuing sessions, GLD gold price will likely be range-bound as the bulls strive to retest the all-time high hit about three weeks ago. 

More specifically, the range between the support level of $376 and $396 will be worth watching. In fact, this range matches the zone between the middle and upper Bollinger bands. On the flip side, a pullback past that range will likely activate the support along the 25-day EMA at $370. 

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The copper price outlook for the medium to long-term remains upbeat amid signs of a supply deficit and heightened demand from decarbonization, urbanization, and modernization. Nonetheless, its upside potential in the short term has been curbed by the persistent economic uncertainties. Indeed, Dr Copper’s current price action mirrors the jitters in the broader market amid the global selloff. 

Copper price action highlights the pressure on the global economy   

A day after President Trump signed the funding bill into law, Dr copper has pulled back from the two-week high hit in the previous session at $5.1655. However, it has held steady above the crucial support at $5.0000 since rebounding above it at the beginning of the week. 

Notably, the investor sentiment has shifted from optimism over the return of US government spending to a global sell-off amid jitters over the Fed rate cut outlook. As an industrial metal with various uses, copper is often used as a barometer for the global economic health. 

From the AI stocks bubble to concerns over the Fed interest rate decision and Chinese economy, a risk-off mood has engulfed financial markets. In fact, the fear & greed index has dropped to an extreme greed level of 24; signaling immense economic uncertainties. 

Data released earlier on Friday indicated that China’s economic activity cooled beyond analysts’ expectations at the onset of Q4’25. Sluggish consumption, a plunge in investment, and slower industrial output growth are all exerting pressure on the world’s second largest economy. 

For instance, according to the country’s National Bureau of Statistics, fixed asset investment dropped by 1.7% in the year’s first 10 months. Notably, this figure marks a record decline for that timeframe. At the same time, the industrial output’s 4.9% surge recorded in October YoY is the least gain year-to-date. With this, the leading importer and consumer of copper has entered the year’s last quarter on a lower note after the expansion recorded in the past six months.    

Comex copper price technical analysis

Copper price chart | Source: TradingView

Comex copper price is set for a weekly gain after being in the red in the previous two weeks. However, it remains range-bound as has been the case since early October. Indeed, at its current level, it is hovering along the middle Bollinger band. Besides, its RSI of 52 points to a sideways trade, at least in the near term.

Based on these technical indicators, copper price may continue to hover around $5.06 as $5.24 curbs its upside movements. On the lower side, a pullback past $4.90 will invalidate this thesis. The copper price outlook for the medium to long-term remains upbeat amid signs of a supply deficit and heightened demand from decarbonization, urbanization, and modernization. Nonetheless, its upside potential in the short term has been curbed by the persistent economic uncertainties. Indeed, Dr Copper’s current price action mirrors the jitters in the broader market amid the global selloff. 

Copper price action highlights the pressure on the global economy   

A day after President Trump signed the funding bill into law, Dr copper has pulled back from the two-week high hit in the previous session at $5.1655. However, it has held steady above the crucial support at $5.0000 since rebounding above it at the beginning of the week. 

Notably, the investor sentiment has shifted from optimism over the return of US government spending to a global sell-off amid jitters over the Fed rate cut outlook. As an industrial metal with various uses, copper is often used as a barometer for the global economic health. 

From the AI stocks bubble to concerns over the Fed interest rate decision and Chinese economy, a risk-off mood has engulfed financial markets. In fact, the fear & greed index has dropped to an extreme greed level of 24; signaling immense economic uncertainties. 

Data released earlier on Friday indicated that China’s economic activity cooled beyond analysts’ expectations at the onset of Q4’25. Sluggish consumption, a plunge in investment, and slower industrial output growth are all exerting pressure on the world’s second largest economy. 

For instance, according to the country’s National Bureau of Statistics, fixed asset investment dropped by 1.7% in the year’s first 10 months. Notably, this figure marks a record decline for that timeframe. At the same time, the industrial output’s 4.9% surge recorded in October YoY is the least gain year-to-date. With this, the leading importer and consumer of copper has entered the year’s last quarter on a lower note after the expansion recorded in the past six months.    

Comex copper price technical analysis

Comex copper price is set for a weekly gain after being in the red in the previous two weeks. However, it remains range-bound as has been the case since early October. Indeed, at its current level, it is hovering along the middle Bollinger band. Besides, its RSI of 52 points to a sideways trade, at least in the near term.

Based on these technical indicators, copper price may continue to hover around $5.06 as $5.24 curbs its upside movements. On the lower side, a pullback past $4.90 will invalidate this thesis. 

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