Commodity Outlook for Copper by KediaCommodity

CopperCopper slid as a stronger dollar and some disappointing U.S. data led investors to believe the economy wasn't able to support prices that rose last week. Strong corporate earnings reports and some upbeat economic data had led to speculation that demand for copper would continue to rise despite the sluggish economic recovery, pushing prices 8.2% higher last week. Copper has touched a low of Rs 328.5 a kg after opening at Rs 333.3, and last traded at Rs331.4.For today market is looking for the support at 328.7, a break below could see a test of 326 and where as resistance is now likely to be seen at 333.9, a move above could see prices testing 336.3.

Trading Ideas:

Copper trading range is 326-336.3.

Copper ended lower on stronger dollar and disappointing U.S. data

Copper looks to take support at 328.70 and resistance at 333.90.

Copper daily stock at Shanghai exchange came down by -951 tonnes.