Rubber Heading for Bear Market on Dead Cross: Technical Analysis
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Rubber is poised to enter a bear market in the next month as a dead-cross formation signals a further sell-off, according to Trading Central SA.
Futures in Tokyo, the global benchmark, may tumble as much as 14 percent to 242 yen a kilogram ($2,550 a metric ton), said Ludwig Garric, a technical analyst at the Paris-based company, who correctly predicted the rally in soybeans to a record last year. Rubber last traded at that level in November.