Wednesday, November 30, 2011

Opening Bell

After sideways movement within tight range 7.75 - 8.00 carbon is approaching the upper band of the channel, which can spark a short-term bull-bear battle.

With a set of macroeconomic data to be published today (German retail sales, German unemployment, French Consumer Spending, Italian Monthly Unemployment) we may see some nervous movements on the market if the data are mixed (positive and negative).

At the moment there still is support at around 7.70 with a resistance at 8.15.

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