OCT 29 WEDNESDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 56.30 , S2 RS 54.80

R1 RS 60.40 , R2 RS 62

Zinc was up from the late pre dawn hours straight

through ending up 0.5067/lb up two and a half

percent.

A plunge in most commodities means 20 to 30 percent of

global production is no longer profitable and will lead

to output cuts.

While the market developed an air of cautious optimism

both traders and Analyst warned that any rally could be

short lived.