opper prices tumbled on a stronger dollar and reports that the widely anticipated Federal Reserve stimulus will be more gradual than expected. Copper prices also dipped as the dollar strengthened and inflation concerns eased.  The red metal's prices ignored Wednesday's better-than-expected economic data, which did little to stem copper's decline. Copper inventories at LME approved warehouses rose 1,125 metric tons Wednesday, to total 368,600 metric tons. Stocks levels at Comex warehouses on Tuesday afternoon, the most recently available data, fell 88 tons to 75,622 tons. Copper has touched a low of Rs 373.3 a kg after opening at Rs 381.15, and last traded at Rs373.7.For today market is looking for the support at 371, a break below could see a test of 368.2 and where as resistance is now likely to be seen at 378.8, a move above could see prices testing 383.9.

Trading Ideas:

Copper trading range is 368.2-383.9.

Copper prices yesterday tumbled on a stronger dollar

Copper is taking resistance at 376.20 and support is seen at 371.

Copper daily stocks at Shanghai exchange came up by 1105 tonnes.