Copper rises on investment demand

Copper gained Saturday as investor sentiment improved on news of a ceasefire in Libya and international currency intervention to stem the yen's surge.
But the market digested the widely expected move, expecting the impact of Chinese tightening measures to be moderate in the longer term.
LME copper stocks added another 850 tonnes overnight, boosting inventories to their highest level since last July, at 429,650 tonnes.
Copper stockpiles monitored by the Shanghai Futures Exchange gained after the bourse started to include two bonded warehouses as delivery points this week, according to data provided by the exchange.
Inventories rose 19,111 metric tons to 177,365 tons, the exchange said. Copper has touched a low of Rs 434.9 a kg after opening at Rs 434.9, and last traded at Rs435.35.
For today market is looking for the support at 434.9, a break below could see a test of 434.5 and where as resistance is now likely to be seen at 435.8, a move above could see prices testing 436.2.
Trading Ideas:
Copper trading range is 434.5-436.2.
Copper gained as investor sentiment improved on news of a ceasefire in Libya
Copper is taking resistance at 438.20 and support is seen at 432.40
Copper weekly stocks at Shanghai exchange came up by 19111 tonnes.

(Source: http://www.commodityonline.com/futures-trading/tradingtips/Copper-rises-on-investment-demand-12121.html)