DEC 10 WEDNESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 162 , S2 RS 158 , S3 RS 154

R1 RS 166 , R2 RS 170 , R3 RS 174
STAY SHORT AT RESISTENCE.
Copper Prices Decline on Signs Global Recession Is Deepening .

Copper prices fell for the seventh time in eight sessions on

signs that the global recession is deepening, even as

governments act to stimulate economic growth.

U.K. housing sales in October declined to the lowest in three

decades. U.S. hiring plans in the first quarter held near a

five-year low, a private survey showed.

Yesterday, copper surged 9.1 percent, the most in five weeks,

after President- elect Barack Obama pledged to boost the U.S

. economy with the biggest package of public-works spending

since the 1950s.

Copper futures for March delivery dropped 5.45 cents, or 3.6

percent, to $1.4435 a pound on the Comex division of the New

York Mercantile Exchange. The metal has tumbled 53 percent

this year.

Copper has supprt at $ 2991 and resistence at $ 3800.

Analyst feel copper could test lower levels in the

coming days.