Copper ended up but eased away from highs capped by a mild recovery in the dollar versus the euro and holiday-thin trading conditions. Copper supported by expectations of further quantitative easing from Federal Reserve, which would erode dollar value. LME warehouse stocks went up by 475 tonnes to 372,475 tonnes on Monday, but remain down more than 30 percent since the middle of February. COMEX copper warehouse stocks dropped 803 short tons as of Friday. Copper has touched a low of Rs 370 a kg after opening at Rs 370, and last traded at Rs371.45. For today market is looking for the support at 369.9, a break below could see a test of 368.4 and where as resistance is now likely to be seen at 373, a move above could see prices testing 374.6.

Trading Ideas:

Copper trading range is 368.4-374.6.

Copper ended up but eased away from highs capped by a mild recovery in dollar

Copper is taking resistance at 373 and support is seen at 369.9.

Copper daily stocks at Shanghai exchange came up by 99 tonnes.