Wednesday, December 10, 2008
UPDATES ON DEC 10 2008
DEC 10 WEDENESDAY
Industrial metals continue to remain under pressure
on the back of weakening economy especially the US .
How ever on Monday Mr Obama's infrastructure spending
plan and hopes that a US Government stimulus package
would help soften the impact of a recession supported
base metal prices.
Young Poong plans to cut zinc production by 10 %
starting from Monday because of falling demand and
weak prices.
Zinc has support at $ 1051 and resistence at $ 1250.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 54 , S2 RS 52 , S3 RS 51R1 RS 55.60 , R2 RS 57 , R3 RS 59.80
STAY SHORT AT RESISTENCE.
Industrial metals continue to remain under pressure
on the back of weakening economy especially the US .
How ever on Monday Mr Obama's infrastructure spending
plan and hopes that a US Government stimulus package
would help soften the impact of a recession supported
base metal prices.
Young Poong plans to cut zinc production by 10 %
starting from Monday because of falling demand and
weak prices.
Zinc has support at $ 1051 and resistence at $ 1250.
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