Tocom Rubber Price Update

Tocom Rubber Price Update

Tocom rubber price on trading session Tuesday night (09/02) to obtain positive results. Rubber futures prices for the most active contract, namely July 2016strengthened pushed the crude oil price rise on the European session.

Crude oil prices rose on Tuesday, ignoring the anjloknya Japan's stock market anderoded some of the losses of the previous session driven by concerns about globaloversupply. The price of U.S. crude oil rose 33 cents to $ 30.02 per barrel at 0720 GMT. The global benchmark price of crude oil Brent rose 6 cents to $ 32.94 per barrel.

The price of natural rubber on the Tocom to contract most active July contract i.e. for 2016 today are experiencing a rise in the amount of 0.5 yen on position of 147.90 yen per kilogram, compared with the previous closing trade positions at 147.40 yen per kilogram.

Forexchair.blogspot.com estimates that the price movement on the Tocom rubber trade today is still potentially strengthened with the increase in the price of crude oil.

For a trading session this evening an estimated price will get to 153.00 Resistance level on the yen. Next resistance is on 158.00 yen. In the meantime if the price retreat will find Supoort in position 143.00 138.00 yen and yen.