Shanghai copper fell nearly 2% today, tracking London's losses in the previous session, as the debt problems in Dubai jangled the nerves of investors and a rebound in the dollar weighed. On the fundamentals side, Peru's Antamina, one of the world's largest copper and zinc mines, signed a new three-year labour contract with its workers, ending four months of tense negotiations and erasing the spectre of a strike.

Copper yesterday traded with the negative node and settled -1.51% down at 318. For today's session market is looking to take support at 315.5, a break below could see a test of 313 and where as resistance is now likely to be seen at 322.1, a move above could see prices testing 326.2.

Trading Ideas:

COPPER TRADING RANGE IS 314-332.

COPPER SLIPED  AFTER THE AFTER THE WEEKS GAIN.

SELL COPPER NOV @ 320-321 SL 323.50 TGT 318.80-316.50-314.20.MCX

SOME PROFIT BOOKING CAN BE SEEN AS DUBAI PANIC WILL BE SEEN IN THE BASEMETAL COUNTER

ZAMBIA'S LUMWANA MINE TO RAISE COPPER OUTPUT