Base Metals Preview: COMEX copper stays supported near two-month high

COMEX copper stays elevated around a two-month high on Tuesday morning in Asia tracking positive cues from equities coupled with dollar weakness overseas. The dollar index fell to 99.8, the lowest in seven weeks amid fresh strength from the yen. Stocks on Wall Street moved sharply higher in early trading on Monday and saw even further upside as the day progressed. The Nasdaq surged 540.04 points or 2.1 percent to 25,913.90, the S&P 500 shot up 110.78 points or 1.5 percent to 7,600.50 and the Dow jumped 693.38 points or 1.3 percent to 53,178.41. Currently, the red metal is up nearly 1% at $6.60 per pound.

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