TECHNICALS FOR NOVEMBER 10

MCX NOVEMBER COPPER

SHORT TERM: SIDEWAYS

LONG TERM : BEARISH

SUPPORTS : S1 184.3, S2 182

RESISTANCES : R1 189, R2 192

WAIT FOR CONFIRMATION

The unprecedented speed and scale of price collapse

in base metal prices is a clear indication of the

cataclysmic changes that have come about in the

global economic environment.Rising inventories add to

the exsisting burden.It is not global slow down but a

full blown recession that the market seems to have

priced in.

Extreme caution is advised in trading, Short covering rallies

may be possible but market fundamentals are such that

rallies may not sustain for too long.