Copper closed higher, maintaining momentum with supportive supply-side issues in Chile, the world's biggest supplier, off-setting the bearish impact of a stronger dollar. Threats of widespread labor action against BHP Billiton's mining operations in Chile holding copper prices up, in spite of a strengthening dollar and rising inventories. Striking workers at Chile's Spence copper mine agree to resume wage talks with owner BHP. Copper has touched a low of Rs 319.35 a kg after opening at Rs 319.4, and last traded at Rs322.55. For today market is looking for the support at
320.30, a break below could see a test of 318.10 and where as resistance is now likely to be seen at 323.70, a move above could see prices testing 325.00.

Trading Ideas:

COPPER TRADING RANGE IS 310-335.

COPPER FINISHED A BIT HIGHER AS TRADERS SQUARED POSITIONS AHEAD OF THE HOLIDAYS

BUY COPPER NOV @ 322-323 SL 320.80 TGT 325.30-327.20.MCX

COPPER IS GETTING RES AT 319.60 ABOVE THIS NEXT RES IS AT 320.80-322.20.

STRIKING WORKERS AT CHILE'S SPENCE COPPER MINE AGREE TO RESUME WAGE TALKS WITH OWNER BHP.