Market risk aversion still exists, and rubber prices show a weak trend

Last weekend's Tokyo rubber market in the context of China's new crown epidemic improvement, corporate factories began to resume work, affected by the Shanghai market low opening and high movement, the Tokyo far month contract fell to around 156 yen in the morning and then rebounded, combined with the evening trading hours to around
165 yen.
The previous day's European and American stock markets once again updated the largest one-day decline in history, which increased the market's risk aversion, and the Tokyo market as a whole showed a weak trend
at the beginning of the morning, including the stock market.
The Tokyo Rubber Far Month contract was supported near a recent low of 155 yen, while the Shanghai market stopped falling at the 10,000 yuan round
.

After that, the news that the People's Bank of China announced that it would cut the reserve ratio of commercial banks again from the 16th to release 550 billion yuan of long-term funds to the market boosted market confidence, and the main contract of Shanghai rubber finally closed above
the previous day's settlement price after recovering most of the decline.
And Tokyo is also driven by the long-selling forces to 165 yen
.

As far as the current epidemic situation in countries around the world is concerned, the number of new infections in China has dropped to single digits every day, while the epidemic in Europe and the United States has just begun to break out
.
As a result, there is also a more obvious divergence
in the trend of the market.
Considering that the United States and Spain declared a state of emergency last weekend, the contraction in economic activity is bound to bring a new round
of lower financial markets.

In terms of spot, the March FOB price of No.
3 cigarette tablets on March 13 was around 49.
37 baht, unchanged
from the previous session.
The March FOB price of No.
20 standard rubber was around 41.
18 baht, unchanged
from the previous session.
The USS spot price was around 41.
14 baht, down 0.
43 baht
from the previous session.

The daily structure of rubber 2005 contract is in a bearish trend, the moving average system shows a short arrangement, and the MACD indicator is in a bearish pattern, but the price has fallen three times in a row since the Spring Festival to near the integer mark of 10,000 yuan / ton, and the trading volume in the stabilization process is significantly amplified, reflecting the strong
support at this position.
On the whole, the daily line of the rubber 2005 contract is in decline, but the lower 10,000 yuan / ton integer mark has strong support, it is recommended to back this position for defense for more ideas operation
.