Commodity Outlook for Rubber by KediaCommodity

Rubber ended the week higher on the back of increasing crude oil price to the highest level in more than two years, resulting boosting the cost of making rival synthetic products. Moreover, the rubber's supply is expected to decline more in next year as the low production season will starts in Thailand in next year. Therefore, overseas buyers, mainly from China, India and Japan, have started buying ahead of New Year holidays and the low production season in order to secure their supply. In yesterday's trading session Rubber has touched the low of 20871 after opening at 20950, and finally settled at 21280. For today's session market is looking to take support at 21007, a break below could see a test of 20735 and where as resistance is now likely to be seen at 21416, a move above could see prices testing 21553.

Trading Ideas:

Rubber trading range is 20735-21553.

Rubber ended the week higher on the back of increasing crude oil price and supply concern

Rubber weekly stocks at Shanghai exchange came up by 4133 tonnes.

Spread between Rubber JAN & FEB contracts yesterday ended at 470.00. Spread yesterday traded in the range of 470 to 540.

NMCE accredited warehouses Rubber stock rosed by 196kgs to 5334kgs.

(Source: http://www.topnews.in/commodity-outlook-rubber-kediacommodity-2301215)