Market sentiment turned moderate rubber January strengthened

Yesterday's Tokyo rubber market, during the long holiday break in the Shanghai market, the far month contract continued to strengthen under the impetus of long forces, after breaking through the 190 yen line, it came to the 192 yen line and closed at a high level
.
Due to the impact of the new crown epidemic, Southeast Asian rubber-producing countries have lowered their production expectations
for the second half of this year due to lack of labor and other reasons.

This week, it was also reported that the Indonesian government will restart lockdown measures in some states in view of the renewed domestic epidemic, which will lead to the production and logistics
of commodities such as rubber and palm oil in the country.
On the other hand, after the return of the US president, the overall atmosphere in the global financial market turned moderate again, and the USD/JPY exchange rate rose to 106 yen, which gave the overall support to the Tokyo commodity market
.
Under the background of not very high market liquidity, Tokyo Rubber has opened positions and entered the market
.

In the Shanghai market, it is expected to return to the uptrend
over the weekend after a sharp decline in the adjustment of holdings ahead of China's National Day holiday.
Since many market analysts believe that there is still room for the rubber market to rise, the current market is concerned about whether the main contract of Shanghai rubber can keep up with the rise of the external market
.

In terms of spot, the October FOB price of No.
3 cigarette tablets on October 8 was around 61.
66 baht, up 0.
28 baht
from the previous session.
The October FOB price of No.
20 standard rubber was around 43.
54 baht, down 0.
3 baht
from the previous session.
The USS spot price was around 53.
43 baht, down 0.
14 baht
from the previous session.

On the technical side, after almost a month of sideways trading in early September, the Tokyo Far Month contract finally broke through the key price level
of the 190 yen line.
Although the structure of the near-far-month spread still maintains a large discount structure, from the price changes in recent trading days, contrary to the firm trend of the far-month contract, the near-month contract shows that the price upward pressure is heavier
.
On the one hand, there are still more than 600 positions in the October contract, and at the same time, the far month price is too low and the stronger external market creates a gap
.
From the Ichimoku balance sheet, after the price entity stands at the 190 yen integer, the short-term conversion line shows signs of crossing the medium-term benchmark again, combined with the relationship between the late line and the position of the price entity, the far month price is likely to try the level near the 195 yen line, and at the same time launch an attempt
to the previous high of 205 yen.
In terms of trading operations, it is recommended that far month contracts maintain the idea
of going long.