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Saturday, June 3, 2023

On February 26, the rubber rebounded slightly in the short-term strong shock

The Council of Rubber Three Countries (ITRC) has adopted measures such as reducing exports by 200,000-300,000 tons. The main rubber producing areas in Thailand have gradually entered the cut-off period, the supply pressure has decreased, and the raw material prices have been firm. Recently, the rubber trend is strong, the price low position is gradually raised, and the short position pressure is weakened. At night, the rubber volatility rebounded, and the market’s long-term speculation still exists. The expected trend structure is still dominated by strong shocks.

In terms of trading strategy, short-term rubber is expected to be strong and volatile, with the support below 12000-12200 points, and the callback to the support level can be short-term.

Translated by Google Translator from http://www.cria.org.cn/newsdetail/47775.html

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