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Mar 10: Tocom Rubber Settles Higher; May Trade Sideways

Tocom rubber futures settle 1.1% higher on dip buying; Tocom may have found a bottom after heavy losses this week and may trade sideways Friday, a Thailand-based trader says; support is at Y404/kg and resistance at Y430/kg. Further sharp falls in rubber prices aren”t likely in IH11 after recent heavy losses, IRCo acting CEO Yium Tavarolit says. Benchmark August rubber settles Y4.4 higher at Y416.8/kg, off an intraday high of Y426/kg.

Source: Dow Jones

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« Mar 9: RUBBER-Tokyo futures fall further, but find support
Mar 11: RUBBER-Tokyo futures slump on falling stocks »

This entry was posted on Thursday, March 10th, 2011 at 4:50 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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