There was a very volatile session yesterday night on Wall Street. Bernanke speech resulted in a buy the rumour sell the news type of price action that was followed by a big rally, DJI jumped more than 600 points from the intra day low. Carbon opened in the positive territory as the result of improving overall market sentiment.
We have two resistances ahead at 11.60 and at 12.20. We suggest to consider adding to the long position we posted yesterday when the price breaks above 11.60. Meanwhile the stop can be moved to 11.20.
Looking at the bigger picture, the 11.60 seems to be a strong resistance. We have a few hurdles ahead before turning into fully bullish. We have to have a higher high above 13.30 to become more positive on longer term.