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Apr 8: Tocom Rubber Falls As Yen Weighs, Crude Slips

[Dow Jones] Tocom RSS3 rubber futures fall, tracking weaker crude, firmer yen. Nymex light, sweet crude for May delivery falls below $86/bbl on stronger dollar vs euro. Tocom overbought for last few weeks–hit 20-month high yesterday, so correction expected, but upside intact on tight physical market, says Thailand-based trader. Support at Y320/kg; resistance at Y330/kg. Benchmark Tocom September contract trading Y3.7 lower at Y323.1/kg, near intraday low of Y322.2/kg.

Source: Dow Jones

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« Apr 7: Tokyo futures at 20-mth high, profit-taking caps gains
Apr 8: Thai USS3 Rubber Prices Rise Despite Lower Tocom »

This entry was posted on Thursday, April 8th, 2010 at 10:13 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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