Rubber : Technical View : 22.11.2019
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On the daily chart, the price slipped and
faced pressure during 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 provides the counter with support.
Momentum indicators RSI(14) has sustained above the 50 level, which could provide strength in the near term.
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 provides the counter with support.
Momentum indicators RSI(14) has sustained above the 50 level, which could provide strength in the near term.
As per the above technical structure; we expect bullish move in the counter.