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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.
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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