Copper prices rose as an encouraging report on jobs in the United States boosted sentiment about the demand prospects for the industrial metal. The gains in copper come after U. S. government numbers showed total nonfarm payrolls fell only 54,000 in August, as census workers lost their jobs, while private payrolls were up 67,000. Once-a-week data released on Fridays by the Shanghai Futures Exchange showed a weekly decline of 4665 metric tons to 105,917. Copper has touched a low of Rs 358.55 a kg after opening at Rs 359.65, and last traded at Rs359.3. For today market is looking for the support at 358.6, a break below could see a test of 357.9 and where as resistance is now likely to be seen at 360, a move above could see prices testing 360.6.

Trading Ideas:

Copper trading range is 357.9-360.6.

Copper prices rose as an encouraging report on jobs boosted sentiment

Copper looks to take support at 357.20 and resistance at 362.30.

Copper weekly stock at Shanghai exchange came down by 4665 tonnes.