Copper dropped in London and was poised for a fourth weekly decline as rising job losses in the U. S. and widening deficits in Europe fueled investor concern that the pace of the global economic recovery is slowing. But on mcx we have seen copper on Saturday traded with the positive node and settled 1.18% up at 299.95, on short covering and profit booking. In yesterday's trading session copper has touched the low of 296.15 after opening at 296.15, and finally settled at 299.95. For today's session market is looking to take support at 297.3, a break below could see a test of 294.6 and where as resistance is now likely to be seen at 301.5, a move above could see prices testing
303.

Trading Ideas:

Copper trading range is 294.6-303.

Copper dropped in London and was poised for a fourth weekly decline as rising job losses in the U. S.

On Saturday market bounced on profit booking but still selling pressure can be seen again at 302 level

Global copper market was in surplus by 191,000 MT between Jan-Nov

BUY COPPER FEB ABV 300 SL 298.80 TGT 300.90-301.60-302.40.. MCX

YESTERDAY LME STOCK FOR COPPER CAME Down BY -1050