Commodity Outlook for Rubber by KediaCommodity

Rubber yesterday traded with the negative node and settled -1.09% down at 21005 due to profit booking. But the downside was limited as rain curbed output in Thailand, heightening concern that a supply shortage may worsen as rising car sales boost demand from China supported the prices. Persistent rains across Thailand, Indonesia and Malaysia, the top three producers, have disrupted tapping and lowered output. The supply shortage may worsen as the low-production season starts in Thailand around February. In yesterday's trading session Rubber has touched the low of 20900 after opening at 20940, and finally settled at 21005. For today's session market is looking to take support at 20817, a break below could see a test of 20628 and where as resistance is now likely to be seen at 21277, a move above could see prices testing 21548.

Trading Ideas:

Rubber trading range is 20628-21548.

Rubber ended lower due to profit booking

Rubber daily stocks at Shanghai exchange came down by 300 tonnes.

Spread between Rubber JAN & FEB contracts yesterday ended at 487.00. Spread yesterday traded in the range of 459 to 500.

NMCE accredited warehouses Rubber stock rosed by 168kgs to 4692kgs.

(Source: http://www.topnews.in/commodity-outlook-rubber-kediacommodity-2300118)