This entry was posted on Monday, March 23rd, 2009 at 8:25 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.
[Dow Jones] Tocom rubber futures settle up, with benchmark August contract at highest since Jan. 27 as gains in other commodities, weaker yen vs dollar encourage buying. “The market has broken the last Y142/kg technical resistance level so the outlook has improved slightly, though fundamentals are unchanged,” says trader in Tokyo. Adds, test of Y150/kg likely in coming sessions, though that level will present a big psychological barrier. “If it does break through Y150/kg though, a test of Y152/kg technical resistance is likely.” Benchmark August RSS3 contract settles Y6.9 higher at Y148.7/kg. (ANJ)
Source: Dow Jones