BREAKING: Copper price soars to 10-year highs

The price of copper is rising thanks to the better outlook for economic rebound, as well as the recently weaker dollar. It is also expected that as the economic rebound accelerates, especially as the demand from China increases, the supply of this metal will shrink. Looking at the chart from a technical point of view, copper launched today's session with a bullish price gap, breaking last week's highs at 9750. If the current sentiment prevails, then another upward impulse towards a wide resistance zone around 9870-10160 could be launched. This results from highs from 2011-2010 which are also the highest levels in history.

Copper interval D1. Source: xStation

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