Copper prices dropped to their lowest level in two weeks on Friday due to intensifying concerns for metal demand from the property sector as Chinese builder warned of a possible bond default. Economic growth in China picked up slightly in the second quarter due to state stimulus measures.

U. S. data was mixed as jobless claims fell unexpectedly while building permits data was also lower than expected, suggesting the labour market recovery was gaining traction, but there was a tumble in housing starts. Trend of MCX Copper August future is in consolidation and also sustaining in range. For the coming week, it could face major resistance of 440/453 whereas 417/410 could be a major support in MCX Copper. For the next week trader may follow sell on higher levels strategy, if MCX Copper August future sustain above 435 levels then it could test the level of 422/415