Copper ended slightly lower consolidating just below the previous session's two-year peak, with a batch of better-than-expected data limiting losses and offering hope for improved economic activity into year's end. Copper benefiting from improved fundamental backdrop reflected in declining inventories and recent bouts of weakness in the U.S. dollar. LME copper warehouse stocks fell by 950 tonnes to 374,150 tonnes, having fallen from 6-1/2 year highs at 555,075 tonnes in mid February. COMEX copper warehouse stocks stood at 85,075 short tons as of Wednesday, down at lowest level since November 2009. For today market is looking for the support at 360.7, a break below could see a test of 359.3 and where as resistance is now likely to be seen at 363.4, a move above could see prices testing 364.6.

Trading Ideas:

Copper trading range is 359.3-364.6.

Copper ended slightly lower with a batch of better-than-expected data limiting losses

Copper is taking resistance at 363.4 and support is seen at 360.7.

Copper weekly stocks at Shanghai exchange came down by -6918 tonnes.