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Friday, January 2, 2009

UPDATES ON JAN 2 2009

DEC 2 FRIDAY

SHORT TERM TREND: BULLISH

LONG TERM TREND : BEARISH

S1 RS154, 151, 148


R1 RS 158, 162, 165


STAY LONG AT SUPPORTS

Copper Heads for Biggest Drop in 21 Years as World Growth Slows .

Copper headed for its biggest annual drop in more than

two decades in London trading. The metal pared its

decline today on optimism governments will succeed

in reviving economic growth next year.

Copper for delivery in three months rose $115, or 4

percent, to $3,030 a metric ton as of 3:28 p.m. on the

London Metal Exchange. The metal reached a record $8,940

on July 2. Futures for March rose 4.1 percent to $1.374

a pound in electronic trading on the Comex division of

the New York Mercantile Exchange.

Stockpiles of copper metal monitored by the LME have

expanded to their biggest since February 2004.

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