DEC 5 FRIDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND: BEARISH
S1 RS 48.20 , S2 RS 46.50 , S3 RS 44.30
R1 RS 51 , R2 RS 52.60 , R3 RS 54.80
STAY SHORT AT RESISTENCE.
Lead prices at LME declined by 10.84 % to $ 971
per tonne.
Lead inventories in the previous session increased by
9325 units to 202750 tonnes.
Lead dropped to a 2 year low in London after Ivernia Inc
the former supplier of 3 % of world output was cleared to
resume a shipment from Australia. Ivernia will start
removing 8000 metric tonnes of stock piled lead
concentrate next month.
The metal mostly used in car batteries , has dropped
62 % this year because of reduced automobile production.
US industry sales dropped for a 13 th straght month
in November , the longest slide in seventeen years.
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