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Since the end of March, the Shanghai rubber futures 1809 contract has changed from the previous unilateral rapid decline to a low box oscillation, operating
in the range of 11000-11800 yuan / ton.
Although the 1809 contract showed three consecutive gains in the three trading days after the May Day holiday, it still did not get rid of the box state
that had been maintained for more than one month.
From the perspective of the moving average system, the 5-day, 10-day and 20-day moving averages of the Shanghai rubber 1809 contract have changed from a short arrangement to a horizontal pattern that is intertwined, and the above 3 moving averages are currently hovering around 11500 yuan / ton, indicating that the short-term price continues the bottom finishing pattern
.
In the medium term, the 40-day and 60-day moving averages are still in a state of bearish downward movement, indicating that the downward pressure on rubber prices in the future is gradually prominent
.
As for the MACD indicator, the red bar body continues to appear, while the DIFF and DEA indicators remain below zero, suggesting that although the bulls are strengthening, the bears still dominate for now
.
