Copper ended up on Saturday on short covering after prices fall on Friday. The metal was under slight pressure on lingering concerns over China's policy shift toward monetary tightening and the potential for a winter-weather related demand slump in the Asian nation. Inventories of copper stored in LME-monitored warehouses rose 3,150 metric tons Friday, leaving them at 510,625. Once-a-week data released on Fridays by the Shanghai Futures Exchange showed a weekly rise of 3,499 metric tons to 98,814. For today market is looking for the support at 344, a break below could see a test of 343.2 and where as resistance is now likely to be seen at 345.3, a move above could see prices testing 345.8.

Trading Ideas:

Copper trading range is 337-350.

Copper ended up on Saturday on short covering but still under pressure on concerns over China's policy

Now copper is getting resistance at 346.20 and support at 343.20 level

LME stocks have risen 44% since the start of the fourth quarter of 2009.

BUY COPPER FEB ABV 346 SL 344.80 TGT 347.20-348.60-350.50.MCX