Friday, October 10, 2008
UPDATES ON OCT 10 2008
OCT 10 FRIDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 68.60 , S2 RS 66
R1 RS 70.60 , R2 RS 72.30
SELL AT RESISENCE LEVELS.
Zinc rises more than 5 pct as metals rebound .
Zinc prices climbed more than 5 percent on Thursday,
industrial metals across the board bounced after sharp falls
in the previous session, traders said.
Zinc for three-months delivery on the London Metal Exchange
jumped to $1,520 per tonne and was at $1,508 per tonne by
1321 GMT versus Wednesday's close of $1,430 a tonne.
Zinc has dropped more than 7 percent since the start of the
week, as metals were sold due to worries about the
slowdown in the global economy.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 68.60 , S2 RS 66
R1 RS 70.60 , R2 RS 72.30
SELL AT RESISENCE LEVELS.
Zinc rises more than 5 pct as metals rebound .
Zinc prices climbed more than 5 percent on Thursday,
industrial metals across the board bounced after sharp falls
in the previous session, traders said.
Zinc for three-months delivery on the London Metal Exchange
jumped to $1,520 per tonne and was at $1,508 per tonne by
1321 GMT versus Wednesday's close of $1,430 a tonne.
Zinc has dropped more than 7 percent since the start of the
week, as metals were sold due to worries about the
slowdown in the global economy.
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