Commodity rubber yesterday traded positively and settled 23516 on short covering which is 0.71% up and after and price fell heavily for whole week as there was no fresh demand from major consuming sectors. The commodity supply due to unseasonal rains during March in Thailand and during April in Malaysia have also cushioned the price fall.
Commodity support for today's market session is expected at 23312, test of 23107 is expected and resistance is now likely to be seen at 23660, a move above could see prices testing 23803.
Commodity Rubber Market:
Rubber trading range is 23107-23803.
Rubber MAY & JUN contracts yesterday ended at 434.00 spread in market is expected.
Spread yesterday traded in the range of -70 to 449.
NMCE accredited warehouses Rubber stock rosed by 1kgs to 7046kgs.
Commodity support for today's market session is expected at 23312, test of 23107 is expected and resistance is now likely to be seen at 23660, a move above could see prices testing 23803.
Commodity Rubber Market:
Rubber trading range is 23107-23803.
Rubber MAY & JUN contracts yesterday ended at 434.00 spread in market is expected.
Spread yesterday traded in the range of -70 to 449.
NMCE accredited warehouses Rubber stock rosed by 1kgs to 7046kgs.
