Copper tumbled after a report showed U.S. employers hired fewer workers than expected last month, reviving concern that the global recovery will slow. In another indicator of demand, inventories of copper stored in LME warehouses fell 1,300 metric tons Friday, leaving them at 473,000. Once-a-week data released on Fridays by the Shanghai Futures Exchange showed a weekly decline of 4,974 metric tons to 152,724. Copper has touched a low of Rs 291.8 a kg after opening at Rs 294.5, and last traded at Rs293.1.For today market is looking for the support at 291.8, a break below could see a test of 290.4 and where as resistance is now likely to be seen at 294.5, a move above could see prices testing 295.8.

Trading Ideas:

Copper trading range is 290.4-295.8.

Copper tumbled after a report showed U.S. employers hired fewer workers than expected

Copper looks to take support at 291.80 and resistance at 295.20

Copper weekly stock at Shanghai exchange came down by -4974 tonnes.

SELL COPPER JUNE BELOW 292 SL 295.40 TGT 290-288.60-287.MCX