GT Goodyear Tire & Rubber Daily Chart

GT Goodyear daily chart showing the negative divergence causing the selling. Overbot conditions and rising wedges also pointed to weakness ahead. Price moving down to test the lower trend line now in the 14.5 area. Sideways to sideways down bias ahead.

Rubber is a key indicator of economic strength since it is required not only for automobiles but also heavy equipment which in turn forecasts the true health of commodities, miners and emerging markets. Weakness in rubber will mean weakness in broad markets. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.