DEC 19 FRIDAY


SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 140.40 , S2 RS 138.20 , S3 RS 136

R1 RS 144 , R2 RS 147 , R3 RS 149.50

STAY SHORT AT RESISTENCE.

Copper futures on the Shanghai Futures Exchange plunged

by the daily limit to the lowest in five years after

global inventories climbed, signaling waning demand

during the recession.

Copper fell to a four-year low yesterday on the London

Metal exchange after the exchange-monitored stockpiles

rose to 324,175 metric tons, the highest level since

Feb. 12, 2004.

Copper for March delivery fell 4 percent from the previous

settlement price to 22,320 yuan ($3,265) a ton at the

market�s open, the lowest intra-day price since December

2003. The contract traded at 22,500 yuan at 10:39 a.m.

local time.

London copper was untraded after closing down 4.6 percent

at $2,880 yesterday, the lowest since December 2004.