Tuesday, August 23, 2011

Closing Bell and a Trade

To exit the position earlier was a too hasty decision. Oil very easily recovered, bouncing off the 84.50 USD line and also continental power prices provided further support for carbon.

Seeing the carbon not trading significantly below 12.65 (each time it rather easily picked up - you can see it 3 times on the chart below), it could have indicated strong support there. Also you could see higher "lows" and higher "highs". All this made us re-enter the market on the break from 12.75 EUR.

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