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Jun 5: Tocom Rubber Settles Sharply Up;Resistance At Y173

[Dow Jones] Tocom rubber futures settle sharply up on firm crude prices, now hovering near $70/bbl. However, Tocom rubber”s settlement today at Y172.5/kg, Y7 higher than yesterday, well off today”s intraday high of Y176.1/kg, reflects fact today”s rise not driven by fundamentals. Rubber market will continue to focus on external cues for direction in coming sessions, with next important resistance at Y173/kg, last hit May 12, say observers.

Source: Dow Jones

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This entry was posted on Friday, June 5th, 2009 at 8:29 pm and is filed under Rubber News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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