Copper yesterday dipped by -0.66% settling down at 437.55 level the first down day in four sessions, as lingering debt uncertainties on both sides of the Atlantic and questions about near-term demand prospects threw some cold water on a recent rally. Despite the profit-taking losses, copper's price performance has been quite impressive, as prospects of a tighter supply base and revived demand outlook in the second half outweighed any of the recent macro-economic jitters. But with prices of the metal now well within reach of their all-time highs, are demand expectations, especially Chinese demand expectations, too lofty?  When prices pierced the $10,000 level earlier this year, Chinese demand dried up, with fabricators preferring to work down internal inventories. With tighter credit conditions came further reduced buying in the first half of this year. But market see the trend possibly coming to an end later this year.In yesterday's trading session copper has touched the low of 436.3 after opening at 439.6, and finally settled at 437.55. For today's session market is looking to take support at 435.9, a break below could see a test of 434.3 and where as resistance is now likely to be seen at 439.6, a move above could see prices testing 441.6.

Copper trading range is 434.3-441.6.

Copper declined on profit booking amid concern Euro debt crisis may slow global economic growth.

Orders to withdraw copper from LME warehouses rose to highest in 3 weeks on bookings in New Orleans.

Copper daily stocks at Shanghai exchange came down by 2545 tonnes

SELL COPPER AUG @ 438 SL 440.80 TGT 436-434.20-432.MCX

YESTERDAY LME STOCK FOR COPPER CAME Up  BY 300