Monday, October 10, 2011

Market Close

Carbon had a good day today, so had all other markets cheering French-German agreement on supporting European banks. EUR gained to USD which could have given support to carbon, but also the cold weather outside created good demand for power.

Technically carbon still follows the upward trend and since last Tuesday (this years lows @ 9.80 EUR) gained some 9%.

All the conditions (oil, EURUSD, power demand) signal continuation of a bullish trend tomorrow. Strong opening tomorrow morning can lead to the break of today's resistance @ 10.72 Let't see.

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