Commodity Outlook for Copper by KediaCommodity

CopperCopper settled higher as robust European output data built on positive economic sentiment to continue supporting the industrial metal.  The metal surged after Monday euro-zone industrial production figures showed the sharpest yearly gain since records began. That helped build on last week's strong Chinese export data and encouraging U.S. jobless claims figures. Copper has touched a low of Rs 304.05 a kg after opening at Rs 304.05, and last traded at Rs307.75.For today market is looking for the support at 304.5, a break below could see a test of 301.2 and where as resistance is now likely to be seen at 310.7, a move above could see prices testing 313.6.

Trading Ideas:

Copper trading range is 301.2-313.6.

Copper ended positive after positive Euro zone data.

Copper looks to take support at 305.60 and resistance at 309.40s

U.S. copper exports fell 63.6% in April from the previous month

BUY COPPER JUNE @ 304-305 SL 302.80 TGT 306.40-308.20-309.60.MCX