Rubber sideways short-term rise is not strong

After the Shanghai market came under pressure at 10,700 yuan, it showed that there was greater
pressure to short near the price in the short term.
The China Passenger Association said in the report that although the performance of China's car market in July cooled down from the previous month, it was still higher overall than the same period last year
.
However, against the backdrop of the expanding global epidemic and the further escalation of confrontation between China and the United States on issues such as Hong Kong and the South China Sea, the overall safe-haven atmosphere in financial markets may further intensify
.
At the same time, the second half of the week is closed for Japanese holidays, and unilateral market movements in the rubber market are less
likely.

In terms of spot, the July FOB price of No.
3 cigarette tablets on July 17 was around 48.
74 baht, up 0.
36 baht
from the previous session.
The July FOB price of No.
20 label rubber was around 40.
57 baht, up 0.
51 baht
from the previous session.
The USS spot price was around 39.
93 baht, up 0.
07 baht
from the previous session.

From a technical point of view, the Tokyo far month contract is trading sideways around the short-term conversion line of 156 yen, showing a lack of obvious sense
of direction in the market.
In terms of position changes, the overall position of the market fell slightly yesterday, and the bulls and bears did not give up their respective positions
.
On the balance sheet, the current thinner clouds can provide limited support, and the downward trend of the medium-term baseline indicates that the short-term upward strength is not strong
.
On the other hand, although there is a certain long signal when the conversion line crosses the base line, it is still recommended to leave the market and wait and see because the direction of the base line itself is downward and the price entity running below the double line shows a weak medium-term trend
.