AUG 21 THURSDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 323.50 , S2 RS 319

R1 RS 330 , R2 RS 334

MARKET IS EXPECTED TO MOVE SIDEWAYS.

US copper futures end down in tandem with energies.

U.S. copper futures ended lower on Wednesday in

sympathy with a negative reversal in crude oil and

under pressure from renewed strength in the U.S.

dollar, traders said.

Copper for September delivery HGU8 settled down 3.15

cents at $3.3970 a lb on the New York Mercantile

Exchange's COMEX division.

Copper relinquishes its early bullish momentum in tandem

with the crude oil, which turned lower after weekly

inventory data showed a larger-than-expected build

in crude stocks.

In currencies, the dollar rebounded on Wednesday amid

growing views that the United states could skirt a

possible recession even as other major countries grappled

with their own decelerating economies.

In afternoon trade in New York, the dollar index, a measure

of its value against a basket of six major currencies, was up

0.45 percent on the day at 77.100. On Tuesday, it rose to

a high for the year of 77.413.

A stronger American currency tends to make dollar-

denominated assets like copper more expensive for

non-U.S. investors.

Copper still plagued by demand reductions from top consumer

China due to government clampdowns on manufacturing

activity in the run-up to and during the Beijing Olympic Games.

However, buyers are expected to revive the market,

probably as soon as September.

London Metal Exchange copper warehouse stocks eased

25 tonnes to 156,125 tonnes on Wednesday.

COMEX copper stocks were unchanged at 5,407 short

tons on Tuesday.

LME copper for delivery in three-months ended down $65

at $7,510 a tonne from Tuesday's kerb close.