Copper continued its weak trend and ended down after a Fitch downgrade of Spain's credit ratings revived concerns about the European debt crisis, and its impact on the economic recovery. Copper has touched a low of Rs 318.6 a kg after opening at Rs 321.6, and last traded at Rs319.3.For today market is looking for the support at 317.8, a break below could see a test of 316.2 and where as resistance is now likely to be seen at 321.7, a move above could see prices testing 324.

Trading Ideas:

Copper trading range is 316.2-324.

Copper continued its weak trend after a Fitch downgrade of Spain's credit ratings last week

Copper is getting resistance at 321.20 and support is at 317.80 level.

Copper daily stock at Shanghai exchange came up by 1000 tonnes.

COPPER LOOK TO TRADE IN THE RANGE 316-320. WAIT FOR FRESH ENTRY.