[Nippon rubber] TOCOM rubber futures fell in midday trading, and the market will explore the next support level
according to the news in Tokyo on February 28, TOCOM rubber futures fell in midday trading on Thursday, which was pressured by the follow-up selling triggered by the market's recent failure to hold above the psychological price level of 320 yen. 320 yen has been closely watched. Traders added that the firmness of the yen against the US dollar further increased the selling pressure on the market, which was easy to read the falling distance. The outlook is still solid, because the fundamentals are good, but the market will now focus on the performance of the benchmark contract near the next technical support level of 306.2 yen, and the psychological support level of 300 yen. The price falls below this level, which will lead to more long positions closing due to its excellent control function and experimental accuracy level, The price will fall to 290 yen. "At present, the global automotive industry is facing great challenges. The benchmark August RSS3 contract fell by 4 yen in midday trading to 308.2 yen per kilogram.
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