AHMEDABAD (Commodity Online): Rubber is in primary uptrend but it has made triple top on its daily chart near 24790 and today Rubber has broken its strong support of 22200 at NMCE, the bourse where Rubber is a major commodity to reckon with.
Rubber opened 21900 and after making high of 22999 it is currently trading near 22000. Rubber looks weak and prices are expected to correct which has support around 20680.
“Technically, Intraday traders can sell rubber below 21700 with the stop loss of 21950,” said Bharti Navlani, Technical analyst with Commodity Online.
(Source: http://www.commodityonline.com/marketmovers/NMCE-Rubber-fall-to-continue-2011-02-25-3140-3-1.html)
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