Copper ended higher as surprisingly robust U.S. economic data bolstered hopes for better demand for the industrial metal. The metal tends to gain on positive economic news, and has been helped in recent days by stronger corporate earnings reports and waning concerns about the European debt crisis. Inventories of copper stored in LME warehouses fell 125 metric tons, leaving them at 413,950 metric tons. The most recent Comex inventory data, released late Tuesday afternoon, were down 181 short tons at 100,438 short tons. For today market is looking for the support at 341.5, a break below could see a test of 337.4 and where as resistance is now likely to be seen at 348.1, a move above could see prices testing 350.5.

Trading Ideas:

Copper trading range is 337.4-350.5.

Copper ended higher as surprisingly robust U.S. economic data bolstered hopes for demand

Copper looks to take support at 343.20 and resistance at 348.10.

Copper daily stock at Shanghai exchange came down by -76 tonnes.