Rubber : Technical View : 18.11.2019
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On the daily chart, the price has closed with negative note in the previous session.
However, the price is trading above the median of the Bollinger Band.
Moreover, It has also sustained above the 21*50 days SMA’s and Parabolic Sar, which
supports for short term.
Momentum indicators RSI(14) has sustained above the 50 level, which could maintain
strength in the counter.
As per the above technical structure; we expect bullish move in the counter.
However, the price is trading above the median of the Bollinger Band.
Moreover, It has also sustained above the 21*50 days SMA’s and Parabolic Sar, which
supports for short term.
Momentum indicators RSI(14) has sustained above the 50 level, which could maintain
strength in the counter.
As per the above technical structure; we expect bullish move in the counter.