OCT 24 FRIDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND: BEARISH

S1 RS 204 , S2 RS 201

R1 RS 210 , R2 RS 213

WAIT FOR CONFIRMATION.

Copper, Nickel Extend Declines on Lower World

Demand for Metals .

Copper fell to a three-year low and nickel dropped to the

lowest since 2003 on speculation the global economic

slump will crimp demand for metals from investors who

had helped send commodities to a record in July.

Copper fell below $4,000 a metric ton in London for the first time

since October 2005,

Copper for delivery in three months declined $95, or 2.3

percent, to $4,060 a ton at 3:49 p.m. on the London Metal

Exchange. The price earlier reached $3,851, the lowest

since Oct. 24, 2005. Before today, copper had lost 54

percent since touching a record $8,940 on July 2.

In New York, copper futures plunged to the lowest price in

more than three years, dropping as much as 7.9 percent

after tumbling 14 percent in the first three sessions this

week. Before today, the metal was down 35 percent since

the end of September, heading for its worst month on

record on signs of declining usage in the U.S. and Asia.

Copper futures for December delivery fell 3.8 cents, or

2 percent, to $1.8275 a pound on the Comex division of

the New York Mercantile Exchange. Earlier, the price

touched $1.718, the lowest for a most-active contract

since Sept. 27, 2005.

Inventories of copper in warehouses monitored by the LME

advanced 1,500 tons to 209,250 tons, and aluminum

stockpiles jumped 3,475 tons to 1.5 million tons, the mos

t since February 1995, exchange figures show.