OCT 14 TUESDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 251.60 , S2 RS 245

R1 RS 257.60 , R2 RS 261

WAIT FOR CONFIRMATION.

Copper prices rallied 4.5 percent on Monday, bouncing after

its biggest sell-off ever as part of a general improvement in

sentiment and after the world's largest copper mine declared

force majeure on some deliveries.

Copper for three-months delivery on the London Metal

Exchange rose as high as $5,015 a tonne from $4,800 at

the close on Friday. At 0931 GMT, it was trading at

$4,950 a tonne.

The metal, used in construction and power, fell more than 20

percent last week on concerns about a deepening recession.

Goldman Sachs, long a resolute commodity bull, turned

near-term bearish on Monday, cutting its forecast for

copper prices in three months to $3,500 a tonne versus

an old forecast of $7,960, but predicting a recovery to

$6,625 in 12 months.