Natural Rubber (SEP 17 - SHFE) ST: the downside prevails as long as 17190 is resistance (2017/03/28 11:42AM)
Our pivot point is at 17190.
Our preference:the downside prevails as long as 17190 is resistance.
Alternative scenario: above 17190, look for 18010 and 18495.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. The price stands below its 20 and 50 day MA (respectively at 17846 and 19386).
Supports and resistances:
18495 **
18010 *
17190 **
16870
16440 last
15090
14620 **
14145 *
13675 **
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