AUG 26 TUESDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 335.40 , S2 RS 333

R1 RS 340.30, R2 RS 343

MARKET IS EXPECTED TO MOVE SIDEWAYS

US copper futures end higher on technical momentum.

U.S. copper futures settled a touch higher in choppy

action on Monday, with a public holiday in London

creating illiquid trading conditions and prompting

investors to focus on the charts, traders said.

The London Metal Exchange closed for a public holiday.

Trading will resume on Tuesday.

Copper for September ended the day up 0.90 cent at $3.4815

a lb on the New York Mercantile Exchange's COMEX division,

after dealing in a range between $3.4405 and $3.5125.


The National Association of Realtors reported that sales

of previously owned U.S. homes rose 3.1 percent in July

to a 5 million-unit annual rate, topping analyst

expectations of a pace of 4.90 million.

China is emerging from the slower summer demand period,

exacerbated this year by factory closures to clean up the

air quality around Beijing for the Olympic Games, and

with Shanghai exchange-monitored stockpiles at

21,796 tonnes, or two days of Chinese consumption,

there was a chance for a supply squeeze to develop.

London Metal Exchange copper warehouse stocks stood at

their highest levels in six months at 163,800 tonnes.

COMEX copper stocks were flat at 5,390 short tons on Friday.