Copper yesterday traded with the negative node and settled -0.38% down at 344.8. Copper prices fell to a three-week low as investors sold riskier assets including commodities after U.S. regulators sued Goldman Sachs Group Inc. for alleged fraud. We have seen the pressure coming in the market after the SEC on April 16 alleged that Goldman misstated key facts about collateralized- debt obligations tied to subprime mortgages. Shanghai copper was seen rising today, chasing an early recovery of 0.6 percent in London after positive results from banking giant CitiGroup helped lift sentiment battered by fraud charges against Goldman Sachs.For today's session market is looking to take support at 341.4, a break below could see a test of 337.9 and where as resistance is now likely to be seen at 347.1, a move above could see prices testing 349.3.

Trading Ideas:

Copper trading range is 337.9-349.3.

Copper prices fell to a three-week low as investors sold riskier assets

Copper is getting resistance at 346.20 and support is at 342.60 level.

Copper daily stock at Shanghai exchange came down by -299 tonnes.

BUY COPPER APR @ 342-343 SL 340 TGT 344.50-346.20-347.50.MCX