Copper yesterday traded with the positive node and settled 1.82% up at 435.65 losing streak to end higher after the morning selloff, reacting to a weaker dollar and volatile crude oil prices, which eased back from an earlier spike above $100 a barrel. Copper is well-supported at the 420-421 area, near-term, on LME three-month copper climbed $80 to close at $9,505 a tonne, but was still down nearly 7 percent from last week's record at $10,190. A bearish trend in LME copper stockpiles since early December has continued to keep a lid on prices, physical copper supply is very good; scrap is around in abundance and the discounts are quite high. China's imports of copper are likely to have fallen in Feb because the NewYear holidays cut arrivals, after a 7.4% rise in Jan supported by fabricator restocking. In yesterday's trading session copper has touched the low of 423.55 after opening at 429.7, and finally settled at 435.65. For today's session market is looking to take support at 427.4, a break below could see a test of 419.1 and where as resistance is now likely to be seen at 440.1, a move above could see prices testing 444.5.

Trading Ideas:

Copper trading range is 419.1-444.5.

Copper ended higher reacting to a weaker dollar and volatile crude oil prices

Copper looks to hold support at 432.20 and resistance at 438.80 level.

Copper daily stocks at Shanghai exchange came up by 276 tonnes.

YESTERDAY LME STOCK FOR COPPER CAME Up  BY 975