SEPT 9 TUESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 306 , S2 RS 303

R1 RS 311.30 , R2 RS 314.50

STAY SHORT.

U.S. copper futures ended Monday with slight losses, weighed

down by the dollar, which rallied on the back of a government

plan to bail out two struggling mortgage finance giants.

Copper for December ended down 0.55 cent at $3.0930 a lb

on the New York Mercantile Exchange's COMEX division.

The U.S. government seized control of mortgage financial giants

Freddie Mac and Fannie on Sunday in an effort to

calm the economy hit by over a year long credit and

housing crisis.

Copper's immediate reaction to the bail out was positive, fueling

a short-covering rally from last week's sharp slide lower.

Copper relinquished its morning gains as the dollar continued

to strengthen, lessening the appeal of commodities denominated

in the American currency.

On Friday, copper stocks jumped 18,775 tonnes in the biggest

one-day build since August 2004.

China's imports of unwrought copper and semi-finished copper

products are expected to rise for the second consecutive month

in August, boosted by lower domestic stocks and firmer

Chinese prices.

Copper for three-months delivery on the London Metal Exchange

closed up $50 at $6,950 a tonne from Friday.