Copper on MCX settled down -0.16% at 382.95 as market activity was subdued as many Western traders were still away on holiday. While Copper prices recovered from the earlier fall and still hovering below a two-week high hit last week, after a solid U.S. jobs report lifted the dollar, making commodities more expensive for holders of other currencies. Copper gained around 19% in 2016 thanks to a rally late in the year, amid enthusiasm about the strength of demand from China and to a lesser extent from the U.S., that contributed to a surge of buying by hedge funds and other speculators. 

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Technically market is under long liquidation as market has witnessed drop in open interest by -9.08% to settled at 14364 while prices down -0.6 rupee, now Copper is getting support at 380.5 and below same could see a test of 378 level, And resistance is now likely to be seen at 385.1, a move above could see prices testing 387.2.