Friday, August 12, 2011

Midday Market Recap

After a three-day rally this week, which pushed the carbon futures price from an intra-day lows of below 10.50 EUR to above 12 EUR, this morning the market still opened strong and contiued to climb way above that level.

We have overestimated the 12 EUR resistance. We were closed out on our long position when our Stop order was triggered @ 11.90. We did however have a chance to re-enter the market on the break above 11.80 and we added to the position on the break above 12.15. Our Stop order would be @ 12.15

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