JAN 8 THURSDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BULLISH

S1 RS 163 , S2 RS 161 , S3 RS 159.40

R1 RS 166 , R2 RS 168.30 , R3 RS 170

STAY SHORT AT RESISTENCE.

Copper surged to a monthly high on Tuesday, adding to its

recent rally. March copper rose to $1.583 a pound, up 12.4

cents for the day. The red metal hit as high as $1.585 in

intraday .

The metal has gained more than 18 cents already in 2009 as

President-elect Barack Obama's possible stimulus package

could bolster the struggling economy. Copper gained 12%

last week.

But copper prices ended lower ending an earlier rally to a

one month high as investors returned their focus to

a slowing economy.

The prices are also pressured by a continuous rise in

LME.