Copper jumped nearly 2% to close at a 3-week high, as confidence in Asian economic growth prospects and speculation that the Fed Reserve could stand ready to support the ailing US economy powered prices higher. Stronger dollar help copper to climb for a 3rd straight day, as investors shifted their focus to an overnight rally in Asian markets and the surprising strength in shares of some banking heavyweights, which signaled to some that the world's largest copper buyer was on firmer economic footing than its Western counterparts. But still copper has failed to break convincingly above the $9,000 mark since a UScredit downgrade reignited concerns over global economic growth earlier this month. US Fed chief Bernanke is due to address central bankers at an annual symposium in Jackson Hole tonight. His speech last year laid the groundwork for the Fed's $600 billion bond-buying program, to revive a sputtering US economy. Investors have taken an optimistic view of how strongly the Fed will commit to supporting the economy at a gathering this week, with risk appetite in Europe up, boosting stockmarkets and underpinning metals. For today's session market is looking to take support at 409.7, a break below could see a test of 403.6 and where as resistance is now likely to be seen at 419.2, a move above could see prices testing
422.5.

Trading Ideas:

Copper trading range is 403.6-422.5.

Copper climbed underpinned by expectations of returning demand from China.

Caution over measures that may be unveiled by US monetary authorities in Wyoming this week kept gains in check.

Investors have taken an optimistic view of how strongly the Fed will commit to supporting the economy.