Wednesday, September 14, 2011

Market Update

Welcome back.

After weak opening on Monday carbon recovered quite well and climbed above 12.00 EUR during quite volatile two sessions (Monday and Tuesday).

Few mixed signals and information influenced the market. One of the reported events was an accident in a nuclear facility in France, which was read by the market as a leakage in a nuclear power plant and this sent the power and carbon price higher. It turned out no nuclear power plant was affected but carbon seemed to find a support at 11.80 and traded above that level since than.













The bounce from 11.60 EUR and further support from 11.80 made us close our shorts which we had since Friday, as no "armageddon" came to the market (yet). There seem to be a breakout from the downtrend - somethign which we saw at the beginning of last week also (bounce back from 12.20 and trading up to 12.50 before further slip - compare with the chart).

12.15 EUR for carbon still seem to be a resistance at this point.

Any views and comments are most welcome.

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