Southern Copper's 15min chart signals RSI overbought, Bollinger Bands narrowing.

As per the 15-minute chart of Southern Copper, the RSI indicator has reached overbought levels and Bollinger Bands have narrowed significantly as of 09/04/2025 14:00. This suggests that the stock price has experienced a rapid and unsustainable increase, exceeding its fundamental support, and the magnitude of price fluctuations has decreased.

Southern Copper (SCCO) experienced a significant rise of 5.04% over two days, driven by strong bullish candlestick patterns and high trading volumes. The stock closed at $100.93 on September 3, 2025, following a 3.78% gain on the previous day. Technical indicators suggest sustained upward momentum, with key resistance levels and support zones identified.

The recent candlestick patterns reveal a bullish reversal, with a hammer formation on September 2, 2025, signaling a rejection of lower prices. This was followed by a strong white candle on September 3, 2025, confirming bullish momentum. The 50-day moving average slopes upward and remains below the current price, indicating short-term bullish bias. The MACD line crossed above its signal line on September 2, 2025, suggesting strengthening momentum. The KDJ indicator entered overbought territory but lacks divergence, supporting near-term upside potential. Bollinger Bands narrowed sharply in late August and expanded during the recent rally, reflecting breakout validation. The 14-day RSI (65.7) is trending upward, indicating bullish alignment but approaching overbought levels.

Key resistance at $103.64 aligns with Fibonacci levels and July 2025 highs, with Bollinger Bands and moving averages reinforcing the bullish bias. A breakout at $103.64 could target $110, though overbought KDJ and consolidation risks near $98–$99.50 warrant caution. The volume-price relationship confirms bullish conviction, with 78% above-average volume during the 3.78% rally on September 3, 2025. The current price tests the 61.8% Fibonacci retracement level, creating a pivotal resistance zone at $103–$103.64.

Strong confluence exists at $103–$103.64, making this a decisive resistance test. Bullish alignment across MACD, volume, and moving averages supports further upside potential near-term. No material divergences are observed, with the KDJ’s overbought status presenting the lone caution but aligning with strong momentum indicators. Downside risk appears contained above $97.25 support absent volume-backed breakdowns.

References:
[1] https://www.ainvest.com/news/southern-copper-jumps-5-04-days-bullish-technicals-target-103-64-resistance-2509/