Copper prices fell on Friday as reduced risk appetite ahead of the Fed policy meet next week hurt base metals. Euro zone industrial production fell by 1.5% in July (Released monthly, about 45 days after the month ends) which raised demand concerns from the region and pushed prices further down. We expect Copper to remain in range to lower as investors would await US retail sales, PPI and consumer sentiment data to get more clarity about the economic recovery in US and Fed’s action.

Trend of MCX Copper future is consolidate and also sustaining around lower levels. So, for the coming week, it could face major resistance of 461/472.20 whereas 440/431.95 could be a major support in MCX Copper. For the next week trader may go for sell on higher levels, if MCX Copper future sustain below 451.90 levels then it could test the level of 447.70/ 443.50 levels.