Commodity Outlook for Copper by KediaCommodity

Copper finished lower, as economic sentiment soured on a string of disappointing U.S. economic news. Copper have been generally under pressure on the perception that the economic recovery may be weakening. Concerns about slowing growth in China, the world's largest copper consumer, have also been weighing on the metal. Once-a-week data released on Fridays by the Shanghai Futures Exchange showed a weekly rise of 7,502 metric tons to 113,870.

Copper has touched a low of Rs 334.8 a kg after opening at Rs 336.2, and last traded at Rs335.05.For today market is looking for the support at 334.5, a break below could see a test of 334 and where as resistance is now likely to be seen at 335.9, a move above could see prices testing 336.8.

Trading Ideas:

Copper trading range is 334-336.8.

Copper finished lower on disappointing U.S. economic news

Copper looks to take support at 333.60 and resistance at 337.20.

Copper weekly stock at Shanghai exchange came up by 7502 tonnes.