Copper ended higher on stronger U. S. employment numbers and upbeat economic news from China. Copper prices rallied on the news as traders consider strong employment data an indicator of growing future copper demand. Copper got a boost after data showed U. S. private-sector jobs rose by 93,000 in November, compared with a revised October increase of 82,000. Wage talks between union leaders and company representatives at Anglo American Plc and Xstrata Plc’s Collahuasi venture will extend into a fourth day in a bid to end a strike at the world’s third-biggest copper mine. Copper has touched a low of Rs 396.05 a kg after opening at Rs 396.5, and last traded at Rs398.35. For today market is looking for the support at 396, a break below could see a test of 393.7 and where as resistance is now likely to be seen at 400.7, a move above could see prices testing 403.

Trading Ideas:

Copper trading range is 393.7-403.

Copper ended higher on stronger U. S. employment numbers

Copper is taking resistance at 400.70 and support is seen at 396.20.

Copper daily stocks at Shanghai exchange came up by 50 tonnes.