Monday, August 15, 2011

Opening Bell

Carbon opened higher today but quickly retreated and now is retesting the 12.20-12.25 resistance level.

Looking at the bigger picture we also see a trendline resistance. We think that the market could be somewhat volatile in the coming days. Therefore, the risk/reward doesn't seem to be attractive for any trade, so we stay away from the market today. We will see how it develops and will adjust our strategy accordingly.

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