NMCE Natural Rubber may hit high soon on positive reports: Technical analysis

By John Godson
NMCE natural rubber futures witnessed a positive phenomenon. Positive response from spot markets impacted rubber prices. The commodity breached the strong resistance at 19400 levels and rallied to 19437 levels.

Profit taking could be witnessed in today’s trading. The prices may witness steady decline to 19100-19200 levels. The commodity will get strong support at these levels. Trend for the day remain positive.

Resistance: 19450, 19530
Support: 19200, 19100

Turn around levels: 19100-19200-19450

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Source: Rubber Country