Copper yesterday traded with the positive node and settled 1.45% up at 435.85, copper on LME finished up at USD 9,542/mt. LME copper prices continued to rise during the European and US trading hours after gains during the Asian trading hours, but it is worth noting that LME copper prices failed to climb above the high level of USD 9,550/mt set during the Asian trading hours. LME copper prices have climbed above the USD 9,500/mt mark, but will experience consolidations at the mark in the short term. In addition, the arrival of the New Year holiday will add to price risks. In yesterday's trading session copper has touched the low of 429.9 after opening at 429.9, and finally settled at 435.85. For today's session market is looking to take support at 431.7, a break below could see a test of 427.6 and where as resistance is now likely to be seen at 438.2, a move above could see prices testing 440.6.

Trading Ideas:

Copper trading range is 427.6-440.6.

Copper jumped on dollar weakness and test life time high if 9550$ on lme.

Copper is taking resistance at 438.60 and support is seen at 431.80.

ETF SECURITIES BASE METALS HOLDINGS STAND AT 1,445.4T COPPER.

COPPER LOOK TO TRADE IN THE RANGE 430-438 WILL WAIT FOR FRESH ENTRY.

YESTERDAY LME STOCK FOR COPPER CAME Up  BY 5050