Weak fundamentals constraints the height of the rubber rose

Bank of Japan the day before news of unexpectedly announced the expansion of the scale of asset purchases have a larger pressure on oil prices by raising the dollar yesterday, the domestic futures market with crude oil related commodities tumbled essentially open lower, which rubber failed to extend a strong market.

From a fundamental perspective, the Thai government rubber stock has risen to 10 million tons, and will continue to rise is expected to post the same incremental domestic Qingdao Free Trade Zone inventory. And is at this stage people to boycott Japanese goods behavior rising expected automobile market “golden nine silver ten” threatens to cease to exist, the rubber just will be affected. From the technical side, the recent Hujiao out of a small head and shoulders bottom pattern, and the right shoulder position over the left shoulder neckline low, which means that this round of price rally has been close to the target position of the head and shoulders bottom. Therefore, little rubber short-term efforts to continue to rise, and space is limited.

Translated by Google Translator from http://news.cria.org.cn/4/10627.html