Copper settled -1.37% down at 414.70 slipped underperforming the broader commodities market as concerns about China's slowing economy and frustration over the 4-year euro-zone debt crisis continued to weigh on already-cautious sentiment. Much of the pressure on prices reflected disappointment that Beijing failed to launch a new round of monetary easing to boost its economy. Some had hoped new measures would be announced over the weekend. Any stimulus measures would be considered key to boosting demand for the metal which is used in housing and construction. The single currency had been boosted earlier by a weekend report that the ECB's new plan could include buying euro-zone countries' bonds if their borrowing costs breached certain levels, lending weight to the view that the ECB would revive its controversial bond-buying program. The euro moved off its earlier highs but remained in positive territory after the ECB poured cold water on the report, adding to frustration over lack of progress in solving the four-year euro-zone crisis. For today's session market is looking to take support at 412.7, a break below could see a test of 410.6 and where as resistance is now likely to be seen at 418.2, a move above could see prices testing 421.6

Trading Ideas:

Copper trading range for the day is 410.6-421.6.

Copper fell as concerns about China's slowing economy and frustration over euro crisis continued to weigh

China disappoints copper bulls with no new easing measures as property prices rise

Still, demand in China may be picking up from the sluggish pace seen earlier this year