Copper erased earlier losses to end up as the dollar slumped and prospects for additional monetary easing grew in response to weak consumer confidence data.  LME copper warehouse stocks were down 2,850 tonnes to 375,275, down more than 30 percent since February and at their lowest level since last November. Ratio of canceled warrants, or metal earmarked for future delivery, equivalent to 6.42 percent of total stock levels. COMEX copper warehouse stocks fell by 284 short tons to 85,850 short tons as of Monday. Copper has touched a low of Rs 356.8 a kg after opening at Rs 358.4, and last traded at Rs361.2.For today market is looking for the support at 358.2, a break below could see a test of 355.1 and where as resistance is now likely to be seen at 362.9, a move above could see prices testing 364.6.

Trading Ideas:

Copper trading range is 355.1-364.6.

Copper ended up as the dollar slumped and weak consumer confidence data

Copper is taking resistance at 362.9 and support is seen at 358.2.

Copper daily stocks at Shanghai exchange came down by -299 tonnes.