NMCE Natural Rubber extend profit taking at 18200-18400 range: Technical analysis

By John Godson
NMCE natural rubber futures witnessed negative trend due to profit taking at higher levels. Steady response from spot markets impacted rubber prices. The commodity breached the strong support at 18300 levels and retreated to 18211 levels.

(Chart Courtesy: Geojitcomtrade)

Profit taking could be continued in today’s trading. The prices may decline below 18000 levels. The commodity will get strong support at these levels. Trend for the day remain negative.

Resistance: 18400, 18450
Support: 18200, 18000

Related Post

Japan rubber futures ends lower in thin trade

December 24, 2024

Iron ore rises on expectations of Chinese pre-holiday restocking

December 24, 2024

Michelin Gives Hadley Group the Confidence to Deliver

December 23, 2024

Japanese rubber futures up

December 21, 2024

Turn around levels: 18000-18200-18400

Source: Rubber Country