Commodity Outlook for Rubber by KediaCommodity

Rubber ended down but recovered most of its losses amid concern that supply from Thailand, the world's largest producer, may tighten further as the nation's growing region enters low-production season early next year. Shipments from Thailand decreased after heavy rain and flooding reduced latex production, worsening a supply shortage as demand expands led by China, the world's largest consumer. In yesterday's trading session Rubber has touched the low of 19940 after opening at 20200, and finally settled at 20050. For today's session market is looking to take support at 19927, a break below could see a test of 19803 and where as resistance is now likely to be seen at 20187, a move above could see prices testing 20323.

Trading Ideas:

Rubber trading range is 19803-20323.

Rubber ended down but recovered its losses amid concern that supply from Thailand may tighten

Rubber daily stocks at Shanghai exchange came up by 170 tonnes.

Spread between Rubber DEC & JAN contracts yesterday ended at 347.00. Spread yesterday traded in the range of 339 to 442.

NMCE accredited warehouses Rubber stock rosed by 162kgs to 3726kgs.

(Source: http://www.topnews.in/commodity-outlook-rubber-kediacommodity-2298025)