Sunday, November 24, 2019

Rubber : Technical View : 25.11.2019

Rubber : Technical View : 25.11.2019

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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.