Copper yesterday traded with the negative node and settled -1.4% down at 414.05 slipped after a string of poor US data compounded concerns that global growth was slowing and after an Austrian parliamentary committee failed to approve changes to the euro zone's bailout fund. Poor U. S. retail sales figures for August and business stocks for July cast doubt on the resilience of global growth, given protracted sovereign debt problems in the euro zone and growing evidence that the world's top economy is faltering. Uncertainty about supply in light of recent industrial action at top copper mines cushioned copper prices. Workers at Peru's Cerro Verde mine, which accounts for about 2 percent of global copper output, started an indefinite strike for better pay and benefits on Wednesday, a union leader said. Also workers at Freeport's Grasberg mine in Indonesia have given the company a deadline of midnight on Wednesday to come up with a fresh pay rise offer, or they will proceed with a month-long strike. In yesterday's trading session copper has touched the low of 413 after opening at 419.05, and finally settled at 414.05. For today's session market is looking to take support at 411.5, a break below could see a test of 409 and where as resistance is now likely to be seen at 418, a move above could see prices testing 422.

Trading Ideas:

Copper trading range is 409-422.

Copper fell stung by a string of poor US data that compounded concerns, with Europe's escalating debt crisis.

Workers at Peru's Cerro Verde copper mine, started an indefinite strike for better pay and benefits

A credit-ratings downgrade of two of France's largest banks only added to the pessimistic tone.