Rubber declines on bad weather

Rubber yesterday traded with the negative node and settled -0.48% down at 19800 as most of the players stayed back letting the prices to settle at comfortable levels as rains subsided and almost came to a halt giving way to the beginning of the much awaited peak production season.
Global consumption of natural rubber will outstrip supply by 313,000 tons this year, the most since 2006, Goldman Sachs Group Inc. predicted in a November report, revising its September outlook for an 82,000-ton deficit.
In yesterday's trading session Rubber has touched the low of 19800 after opening at 19910, and finally settled at 19800.
For today's session market is looking to take support at 19727, a break below could see a test of 19653 and where as resistance is now likely to be seen at 19947, a move above could see prices testing 20093.
Trading Ideas:
Rubber trading range is 19653-20093.
Rubber ended weak as traders waiting for prices to come down for buying
Rubber daily stocks at Shanghai exchange came up by 210 tonnes.
Spread between Rubber DEC & JAN contracts yesterday ended at 350.00. Spread yesterday traded in the range of 321 to 365.
NMCE accredited warehouses Rubber stock rosed by 41kgs to 3234kgs.