Copper fell for a second day in London and declined for the first time in six days pressure can be seen today also as in Shanghai higher prices encouraged investor to sell the metal for gains.  US dollar index strengthened reaching as high as 79.5 before closing at 79.35, as a result, LME copper prices dropped by 1.21%. Copper has touched a low of Rs 437.6 a kg after opening at Rs 441.3, and last traded at Rs439.2.For today market is looking for the support at 435.8, a break below could see a test of 432.3 and where as resistance is now likely to be seen at 444.5, a move above could see prices testing 449.7.

Trading Ideas:

Copper trading range is 432.3-449.7.

Copper tumbles in broad-based commodities selling.

Copper is taking resistance at 441.80 and support is seen at 436.20.

Copper daily stocks at Shanghai exchange came up by 851 tonnes

SELL COPPER FEB @ 441 SL 443.50 TGT 438.80-437-435.60.MCX

YESTERDAY LME STOCK FOR COPPER CAME Up  BY 125