Tocom rubber futures settle higher after gaining as much as 6.3% intraday; although the Thai
government Monday put on hold further measures to boost prices due to a strong rebound, a Thailand-based trader says the
prospect it may intervene further in the event of another sharp fall will support prices. Major producing countries are
also in the low-output season and cash prices are strong, likely allowing more upside, another trader says.
Bangkok-based DS Futures analyst Chaiwat Muenmee pegs key resistance at Y450/kg. Benchmark August RSS3 rubber settles
Y25.3 or 6.2% higher at Y433.9/kg, off an intraday high of Y434.5/kg.
No comments:
Post a Comment