Copper settled lower on pressure from the stronger dollar and worries about Europe's debt crisis. Europe's renewed sovereign debt problems also threaten the euro zone's projected copper demand. With the strike at Chilean copper mine Dona Ines de Collahuasi entering its 22nd day, the company is loading a shipment of 10,000 dry metric tons of copper bound for China. Inventories of copper on Shanghai Exchange declined for the first time in four weeks by 4,124 metric tons to 122,612 tons. For today market is looking for the support at 377.8, a break below could see a test of 377.5 and where as resistance is now likely to be seen at 378.7, a move above could see prices testing 379.3.

Trading Ideas:

Copper trading range is 377.5-379.3.

Copper settled lower on pressure from the stronger dollar

Copper is taking resistance at 380.60 and support is seen at 375.80.

Copper weekly stocks at Shanghai exchange came down by 4124 tonnes.