Copper takes a dip after a long peak

AHMEDABAD (Commodity Online): On Thursday, Copper was mixed in late trade as investors broke down a batch of data from China and US that offered opposing views about economic and demand prospects. Copper August contract ended at 433.85 rupees per Kilogram after testing above level at 444.50 rupees.
Copper prices were trading with marginal losses on the penultimate trading day of the week, but remained between the tight ranges. Mixed economic signals from US failed to provide markets with a definite direction and prices turned amidst uncertainty.
Today, MCX Copper February delivery contract down by 0.80 percent to 428.40 rupees per Kilogram. Copper slips from all time high levels at 466.20 rupees per Kilogram to 428.40 at 3-weeks low levels.
Due to worries about global economic growth and demand, Copper took very soft tone today. There is a possibility that weakness in Dollar price would help to support Copper price.
According to Amrita Mashar, analyst with Commodity Online, for the moment, Copper future looks weak below 450 rupees per Kilogram. Copper expected to drop till 416 in coming weeks if price failed to sustain above 427 rupees per Kilogram.

(Source: http://www.commodityonline.com/marketmovers/Copper-takes-a-dip-after-a-long-peak-2011-02-23-3121-3-1.html)