Commodity Outlook for Copper by KediaCommodity

copperCopper closed lower but managed to bounce away from their lows with the help of a weaker dollar and upbeat retail sales data that reinforced improving economic and demand prospects. LME copper warehouse stocks edged up 75 tonnes to 390,525 tonnes, but are still down some 30 percent since mid-February.  COMEX copper warehouse stocks fell by 272 short tons to 93,157 short tons as of Monday, Sept. 13. Copper has touched a low of Rs 351.6 a kg after opening at Rs 355.8, and last traded at Rs354.3.For today market is looking for the support at 351.7, a break below could see a test of 349 and where as resistance is now likely to be seen at 356.9, a move above could see prices

testing 359.4.
Trading Ideas:
Copper trading range is 349-359.4.

Copper closed lower but managed to bounce away from their lows with the help of weaker dollar


Copper looks to take support at 351.70 and resistance at 356.90.


Copper daily stock at Shanghai exchange came up by 549 tonnes.