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15 Aug 2011: Tocom Rubber Settles Higher; Y380/Kg Resistance

Tocom rubber futures settle 0.4% higher after moving in a tight Y362.7-Y366.4/kg range. Trade volumes are thin amid a traditional festival in Japan. “There”s a group of traders eyeing the Y380/kg level; if that resistance is not breached in a week or two, they”ll start to take short positions,” says a trader in south Thailand; he says the market is likely to remain in day-trading mode in the short term. Benchmark January rubber settles Y1.3 higher at Y364.8/kg.

Source: Dow Jones

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This entry was posted on Monday, August 15th, 2011 at 4:24 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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