SEPT 25 THURSDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 314 , S2 RS 311

R1 RS 318.50 , R2 RS 323

WAIT FOR CONFIRMATION.

Copper slips on demand worries, uncertainty.

Copper prices fell in New York and London on Wednesday

amid fears of a prolonged demand slowdown and

uncertainty surroundingthe U.S. government's

proposed $700 billion bailout of financial markets.

Copper for delivery in three on the London Metal

Exchangeclosed down $75 a tonne at $6,905. the metal,

used widely in power andconstruction, slipped 4 percent

on Tuesday.

In New York, copper for December delivery shed 4.55

cents to settleat $3.1065 a lb on the New York Mercantile

Exchange's COMEX division, near thelower end of its

$3.0830 to $3.1815 session range.

The dollar slipped amid nervousness about the bailout's chances

for passage. In afternoon New York trading, the dollar was

down slightly against abasket of major currencies .DXY at

76.725, while the euro was up 0.1 percenton the day at

$1.4659.

Analysts said industrial metals also came under pressure from

news thatcorporate sentiment in Germany, Europe's largest

economy, deteriorated for thefourth month running, and

weakening data from other economies.

London copper is down about 20 percent from its record high

of $8,940 pertonne hit in April, as investors have dumped

positions amid lack of demand fromChina and global

financial turmoil.

Sentiment got a boost from another drawdown in copper

stocks which fellnearly 9,000 tonnes this week, mostly

as material left warehouses in Korea,likely bound for

China, suggesting a pick-up in demand in the world's

largestconsumer of the metal.

Copper has support at $ 6692 and resistence at $ 7100.