Tuesday, August 30, 2011

Marker Commentary

Today seemed like a good day for carbon. Good volume, some volatility, testing certain lows, but still holding on strong. German power and oil trading higher despite quite bad US Consumer confidence data.

Nevertheless carbon is still approaching considerable resistance @ current levels.

We decided to close our last night long position, take the profit out, and look for further confirmations. We would enter long again on the confirmation of the break above 13.55 EUR or turn bearish if it fails to do so.

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