Copper prices remained in a range for the day yesterday as uncertainty regarding US debt ceiling issue. U. S. Republican Representative Pete Sessions said he hoped a deal could be struck by Friday.

Lack of demand from China also kept copper prices in check. We expect copper prices to go down due to continued uncertainty over debt ceiling issue and lack of buying from China.

Trend of MCX Copper November future is in consolidation and also sustaining around lower levels. For the coming week, it could face major resistance of 450/473 whereas 421/400 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 438 levels then it could test the level of 433/421.