Copper yesterday traded with the positive node and settled 1.35% up at 458.1 to a new record just shy of $10,000 on LME, as another round of positive economic data backed the widely held view of robust global demand prospects in 2011. The rally up about 8 percent over the past week and was on its way toward the upper end of the range of estimates. Copper's early-year momentum has grown against a backdrop of improving economic conditions, constrained supply and new-month fund allocations. In yesterday's trading session copper has touched the low of 452.5 after opening at 452.5, and finally settled at 458.1. For today's session market is looking to take support at 454.1, a break below could see a test of 450.1 and where as resistance is now likely to be seen at 460.5, a move above could see a move above could see prices testing 463.

Trading Ideas:

Copper trading range is 450.1-463.

Copper ended positive buoyed by improved prospects for global economic growth and tight supplies

Copper looks to take support at 455.80 and resistance at 460.60.

Copper daily stocks at Shanghai exchange came up by 549 tonnes

COPPER TECHNICALLY CORRECTION IS DUE WILL WAIT FOR FRESH ENTRY

YESTERDAY LME STOCK FOR COPPER CAME Down BY -100