Copper stumbled to a three-week low, as chart-based selling, inflation worries, and the demand-stifling effect of prices near record highs kept sentiment subdued. Copper yesterday traded with the negative node and settled -0.3% down at 447.85. But once again, bargain buyers stepped in and supported prices near their session lows, helping to trim London's losses and boost U.S. copper futures back into positive territory by the close. Since hitting all-time highs at $10,190 per tonne in LME, upside momentum has stalled as concerns about rising inflation in top consumer China limited the red metal's shorter-term demand outlook. In yesterday's trading session copper has touched the low of 441.45 after opening at 450.3, and finally settled at 447.85. For today's session market is looking to take support at 442.3, a break below could see a test of 436.7 and where as resistance is now likely to be seen at 452.7, a move above could see prices testing 457.5.

Trading Ideas:

Copper trading range is 436.7-457.5.

Copper closed lower with market players hailing a deeper correction to come

Copper looks to take support at 445.80 and resistance at 451.20 level.

Copper daily stocks at Shanghai exchange came down by 175 tonnes.

YESTERDAY LME STOCK FOR COPPER CAME Up  BY 1400