UPDATE FOR 29 SEPTEMBER

SHORT TERM TREND : BEARISH

LONG TERM TREND: BEARISH

S1 301, S2 RS 297

R1 RS 305 , R2 RS 308

Bank crisis, strong U.S. dollar knock down metals.

Industrial metals ran intoadditional liquidation in after-hours

trade on Monday after aproposed $700 billion financial rescue

package was rejected by U.S.lawmakers.

The House of Representatives rejected by a vote of 228-205 a

WallStreet bailout bill that would have authorized the Treasury

Department to spend up to $700 billion to purchase toxic

mortgage-backed bonds from banks in an effort to jump-

start stalledcapital markets.

Industrial metals were slammed following the decision.

Copper for delivery in three on the London Metal Exchange

closed down $335 at $6,440 per tonne. After-hours, the metal

fell as low as $6,349.50, its lowest level since mid-December 2007.

Turmoil in financial markets has weighed on metal prices for months.

Copper, used in construction, has fallen more than 25 percent from

a record high of $8,940 on July 2.

The dollar extended losses against the yen amid rising risk aversion

as foreign exchange investors expressed concerns about further

instability in the global banking system following bank bailouts in

Europe and the United States.

The U.S. Commerce Department said consumer spending was flat

inAugust, after barely edging up by a revised 0.1 percent in July,

amuch weaker outcome than forecast by Wall Street economists

surveyedby Reuters, who had expected a 0.2 percent spending rise.