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Sept 17: Tocom Rubber Futures Settle Up;Resistance At Y208

[Dow Jones] Tocom RSS3 rubber futures settle higher on short covering, overnight gains in crude oil, stronger yen. Physical demand for rubber, positive leads from other asset classes supportive for prices today, says Tokyo-based trading executive. US dollar falls below Y91, hovering around Y90.68; may move to Y90, according to analysts. Nymex light, sweet crude oil for October delivery settled up $1.58, or 2.2%, yesterday at $72.51/bbl, highest since Aug. 28. Benchmark Tocom RSS3 rubber futures settles Y3.5 higher at Y206.8/kg after reaching intraday high of Y210.4. Most traders put technical resistance at Y208, then Y210. Prices fell below Y190/kg Monday. (SAM)

Source: Dow Jones

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« Sept 17: Rubber Advances a Third Day as Higher Oil Boosts Cost of Rival
Sept 18: Rubber Posts Worst Loss in 4 Weeks as Chinese Demand May Slow »

This entry was posted on Thursday, September 17th, 2009 at 6:55 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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