Here are some recent information that can increase rubber price tomorrow:
The ongoing war in Ukraine: The war has disrupted the global rubber market, as Russia and Ukraine are both major producers of rubber. The war has also caused uncertainty in the market, which could lead to volatility in rubber prices.
The weather: Rubber prices can be affected by...
4 hrs CS showed movement with 3 continuous of Bullish Engulfin means strong movement for an uptrend. Breaking the EMA 100 and EMA 200 with a strong CS is also a sign of trend change from a bearish to a bullish trend with continuous movement.
The time frame daily will be the indicator for the break zone for TSR20 Sicom April price. At the same time please look at the strength of DXY/USD if the DXY become a stronger possibility is again bearish. This Month 23rd Feb 3.00 am (Wib) watch out for the FED FOMC meeting.
As previously updated, the strong support still holds preventing the price from going down. As my prediction,
this will be sideways until the FOMC Result this coming Thursday. The FOMC will determine which path of direction up trend or down trend.
Predict to go until Low BB weekly then will bounce back due to the weakness of USD. Expected there will be sideways movement on next week on USD that will prevent the TSR20 price to go lower.
Break out zone will be the tested area whether it will continue up trend if fail to break then it will again go down trend.
Meet my expectation of movement tested the support, break out went to Low BB, and now the Low BB line open little more to downtrend.
And starting today if the US DXY currency continues to strengthen the Rubber Price will continue target to the next D1 Fresh Strong Support. If the US Currency at sideways it will also reflect the Rubber price to fluctuate sideway...
CS moving toward the continuation of the downtrend. Break out support the dot lines will continue dropping estimate to lower BB at 130.50.
D1 Support is strong support it will be pullback for some time before it again tests the support, a strong uptrend in USD will give an opportunity
to break the support and go direct to lower BB.
TSR20 was expected to do a pullback due to the correlation between the strong USD and the weak gold.
The pullback is expected to reach the low BB because as normal or standard analysis once the CS reach the mid-BB
and cannot break it it will go back to Low BB. However, it depends on the current economic news it can
affect the movement to reverse to a strong buy if...
Target to reach at Low BB at W1 with USD 142.00 KG Dry price for October Sales.
Strong Shooting Star from seller makes a continuation Candle Stick to break support at D1
and as closing today it was at USD 143.70
The rubber price affects by the whole downtrend in the market. Rubber October price moving toward 140 if the gold continue to drop down.
This week Jackson Hole; a Speech by FED Jerome Powell will be the direction on the moving continue upwards or downward.
To be, or not to be, that is the question:
Whether 'tis nobler in the mind to suffer
The slings and arrows of outrageous fortune,
Or to take arms against a sea of troubles
And by opposing end them. To die—to sleep,
No more; and by a sleep to say we end
The heart-ache and the thousand natural shocks
That flesh is heir to: 'tis a consummation
Devoutly to be wish'd
Price action rubber maybe hit psychology level 300. hope fundamental drive this sentiment.
Reason here, fibo level 423 and price starting above ema 50.
For Discussion, Rubber Futures trading in consolidation.
May break higher; Higher rubber prices may affect margin of glove making companies?
What are your thoughts?
