Copper ended flat Saturday after rising Friday as a weaker dollar boosted prices, but pared gains as poor U. S. data underlined a patchy global economic outlook that suggested its advance may falter. Copper on LME hit $9,238, its highest since May 4, as the euro climbed to a session high against the dollar. However copper prices were on track for a third monthly loss. Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 8.7 percent or around 7,800 tonnes from last Friday, the exchange said. In yesterday's trading session copper has touched the low of 417.3 after opening at 419, and finally settled at 417.7. For today's session market is looking to take support at 417, a break below could see a test of 416.3 and where as resistance is now likely to be seen at 418.7, a move above could see prices testing 419.7.

Trading Ideas:

Copper trading range is 416.3-419.7.

Copper settled flat Saturday after gaining Friday as higher premiums signaled stronger demand in China.

Copper is taking resistance at 420.90 and support is seen at 414.40.

Copper weekly stocks at Shanghai exchange came down by 7799 tonnes