Friday, August 5, 2011

Opening Bell

Carbon did surprisingly well yesterday relative to other asset classes that experienced a panic selloff. This morning the price is challenging the 11.00 EUR key resistance level.

We are somewhat cautious adding to the short term short position we posted yesterday due to the relatively good performance of carbon. Although if trading on a higher timeframes one could consider entering a short position with a 11.75 S/L should at least a 1 hour candle closes bellow 11.00.

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