Copper ended slightly down on Saturday but ended the week higher on support from a weak dollar outlook, surprisingly strong U. S. labor data and a strike in top-producer Chile. On the LME benchmark copper for three-month delivery climbed to its highest in over two years at $8,769.50 a tonne, within $200 of an all-time peak of $8,940 hit in July 2008. It closed up $60 at $8,660 a tonne. Falling warehouse inventories and a strike in Chile, the world's largest copper producing nation, also boosted prices. Once-a-week data released on Fridays by the Shanghai Futures Exchange showed a weekly rise of 760 metric tons to 106,851. For today market is looking for the support at
385.4, a break below could see a test of 384.5 and where as resistance is now likely to be seen at 387.4, a move above could see prices testing 388.5.

Trading Ideas:

Copper trading range is 384.5-388.5.

Copper ended the week higher on support from a weak dollar outlook

Copper is taking resistance at 388.20 and support is seen at 384.4.

Copper weekly stocks at Shanghai exchange came up by 760 tonnes.