Copper yesterday traded with the positive node and settled 2.6% up at 412.9 sharply higher on Wednesday, posting its biggest one-day advance in two months, as commodity markets stabilized from recent losses and presented investors with truer valuations. Gains ran far and wide across the commodity complex, led by an almost 4-percent rally in U.S. crude oil prices, and a gold price back up near $1,500 an ounce. A stronger dollar and renewed concerns about global economic growth from China's monetary tightening campaign, weak U.S. data, and Europe's ongoing debt crisis were behind crashing commodity prices in the first two weeks of May. In yesterday's trading session copper has touched the low of 402.8 after opening at 402.8, and  finally settled at 412.9. For today's session market is looking to take support at 406, a break below could see a test of 399 and where as resistance is now likely to be seen at 416.7, a move above could see prices testing 420.4.

Trading Ideas:

Copper trading range is 399-420.4.

Copper closed higher as commodity markets stabilized from recent losses

Copper is taking resistance at 416.70 and support is seen at 406.

Copper daily stocks at Shanghai exchange remained unchanged