Monday, August 22, 2011

Opening Bell

Carbon opened lower from where it settled last Friday. The shy breakout from the bearish trendline is faced now with relatively strong resistance level. We can see a Head and Shoulders forming now, which would indicate a decline in carbon prices. Perhaps we will see the price testing the support @ around 12.15 EUR and anything below that could be a signal of entering into bearish market again.

1 comment:

  1. Head and Shoulders is a chart pattern. Identifying chart patterns is simply a form of technical analysis, the price changes often form meaningful chart patterns that can act as signals in trying to determine possible future trend developments.