Commodity Outlook for Rubber by KediaCommodity

Rubber yesterday traded with the positive node and settled 0.08% up at 19825 recovering from its lows amid concern that supply from Thailand, the largest exporter, may tighten further on seasonal decline in output. Global consumption of natural rubber will outstrip supply by 313,000 tons this year, the most since 2006. In yesterday's trading session Rubber has touched the low of 19710 after opening at 19790, and finally settled at 19825. For today's session market is looking to take support at 19747, a break below could see a test of 19668 and where as resistance is now likely to be seen at 19867, a move above could see prices testing 19908.

Trading Ideas:

Rubber trading range is 19668-19908.

Rubber recovered from lows amid concern that supply from Thailand may tighten further

Rubber weekly stocks at Shanghai exchange came up by 1060 tonnes.

Spread between Rubber DEC & JAN contracts yesterday ended at 350.00. Spread yesterday traded in the range of 350 to 390.

NMCE accredited warehouses Rubber stock rosed by 159kgs to 3564kgs.

(Source: http://www.topnews.in/commodity-outlook-rubber-kediacommodity-2297166)