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
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
