Friday, October 3, 2008
UPDATES ON OCT 3 2008
OCT 3 FRIDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 77.40 , S2 RS 75.80
R1 RS 79.60 , R2 RS 82.20
STAY SHORT AT RESISTENCE.
Zinc fell to a near three-year low.
Major commodity indexes suffered double-digit declines in
percentage termslast month, as the financial crisis
triggered falls across the commodity spectrum.
A firmer U.S. currency also weighed, making dollar-priced
commodities more expensive for holders of other currencies.
Zinc closed at a trough of $1,580 a tonne, the lowest level since
Nov. 2005 and down 5.3 percent against $1,668.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 77.40 , S2 RS 75.80
R1 RS 79.60 , R2 RS 82.20
STAY SHORT AT RESISTENCE.
Zinc fell to a near three-year low.
Major commodity indexes suffered double-digit declines in
percentage termslast month, as the financial crisis
triggered falls across the commodity spectrum.
A firmer U.S. currency also weighed, making dollar-priced
commodities more expensive for holders of other currencies.
Zinc closed at a trough of $1,580 a tonne, the lowest level since
Nov. 2005 and down 5.3 percent against $1,668.
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