Copper ended positive on encouraging home sales and factory orders numbers, but the market settled off its peaks ahead of key U.S. jobs data. The metal was also higher as the dollar fell against the euro after a successful Spanish government debt auction and the ECB offered few surprises after leaving key rates unchanged. Inventories of copper stored in LME warehouses rose 700 metric tons, leaving them at 399,475. The most recent Comex inventory data, released late Wednesday afternoon, were unchanged at 95,346 short tons. Copper has touched a low of Rs 356.65 a kg after opening at Rs 357.75, and last traded at Rs358.25.For today market is looking for the support at 356.5, a break below could see a test of 354.7 and where as resistance is now likely to be seen at 360.2, a move above could see prices testing 362.2.

Trading Ideas:

Copper trading range is 354.7-362.2.

Copper ended positive on encouraging home sales and factory orders data

Copper looks to take support at 356.50 and resistance at 360.20.

Copper daily stock at Shanghai exchange came up by 374 tonnes.