Copper yesterday traded with the negative node and settled -0.07% down at 458.5 but yesterday struck a record high at $10,000 on supply deficit concerns and as recent economic data from top consumers China and the US increased demand prospects. But copper eased to a day's low of $9,890 a tonne, after a slew of upbeat U.S. data and hawkish comments from ECB President Jean-Claude Trichet lifted the U.S. dollar versus the euro, deterring European investors. In yesterday's trading session copper has touched the low of 456.75 after opening at 458.6, and finally settled at 458.5. For today's session market is looking to take support at 456.7, a break below could see a test of 454.9 and where as resistance is now likely to be seen at 460.4, a move above could see prices testing 462.2.

Trading Ideas:

Copper trading range is 454.9-462.2.

Increasing manufacturing demand and faltering supplies elevated copper to fresh record highs.

Copper looks to take support at 456.20 and resistance at 460.40.

Copper's deficit this year could range from roughly 400,000 to 800,000 metric tons

YESTERDAY LME STOCK FOR COPPER CAME Up  BY 700