AUG 6 WEDNESDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 84 TO 88
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 85.30, S2 RS 84, S3 RS 82.40
R1 RS 87.40, R2 RS 88.60, R3 RS 90
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Lead climbed to $2,015 a tonne from $2,000 on Monday
when it shed 6 percent. The battery material has been one of the
few metals to rally recentlyon the back of Chinese demand and
rising cancelled warrants -- material alreadyreserved.
Concerns about the macroeconomic outlook were also highlighted
by the decline in U.S. crude prices .
"What we are seeing is more of a nervousness across the whole
of commodities that hasn't left base metals untouched," said
Gayle Berry, analyst at Barclays Capital.
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