AUG 22 FRIDAY

SHORT TERM TREND : BULLISH

LONG TERM TREND :BEARISH

S1 RS 336 , S2 RS 332

R1 RS 343 , R2 RS 347

BUY AT RS 335 TO 335.50

STOP LOSS RS 332

TARGET RS 341

US copper ends firm in dollar-driven commods rally.

Copper for September delivery peaked at $3.5625

on the New York Mercantile Exchange's COMEX division,

its highest level since Aug. 4, before settling up 14.90

cents at $3.5460.

The dollar fell across the board as worries mounted over

the health of the U.S. financial sector.

The U.S. dollar index .DXY, a gauge of its value against a basket

of six major currencies, was on track to post its worst one

-day fall in five months.

A weaker U.S. currency tends to make dollar-priced metals

more attractive to non-U.S. investors.

Copper swept up in broad-based commodity asset-class rally,

with the Reuters-Jefferies CRB .CRB index, a basket of 19

commodity futures, up over 3 percent to a two-week peak

above 400 points.

Copper's sharp rebound from last week's slide to six-month

lows partially tied to encouraging demand signals from China,

the world's leading metals consumer, brokers said.

A six-month low in Shanghai copper a significant narrowing in

the Shanghai futures price discount to London prices, and

stronger spot premium in the Shanghai futures market

underpinned the red metal's firmer tone, they said.

Chinese copper demand was expected to rebound as

soon as September.

London Metal Exchange copper warehouse stocks rose by

400 tonnes to 156,525 tonnes on Thursday.

COMEX copper stocks eased 17 short tons to 5,390 short

tons on Wednesday.

LME copper for delivery in three-rose as high as $7,889 a tonne, its

loftiest level since Aug. 4. It closed at $7,865, up $355

from Wednesday's kerb close.