Copper yesterday traded with the negative node and settled -0.06% down at 432.1 depressed by marked declines in the LME market. SHFE copper market also slid to around the 10-day moving averages, LME copper prices fell as low as USD 9,337/mt after the US dollar index broke the 81, and as China’s domestic stocks market slumped due to expectations that China will take further controlling steps on the financial market. In yesterday's trading session copper has touched the low of 431.5 after opening at 435.25, and finally settled at 432.1. For today's session market is looking to take support at 430.7, a break below could see a test of 429.2 and where as resistance is now likely to be seen at 434.4, a move above could see prices testing 436.7.

Trading Ideas:

Copper trading range is 429.2-436.7.

Copper traded weak as depressed by marked declines in the LME & SHFE copper market.

China’s mkt slumped due to expectations that further controlling steps on the financial market can be seen.

Support for copper is at 429.20 and resistance is look to see at 436.70 level.

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

YESTERDAY LME STOCK FOR COPPER CAME Up  BY 125