Monday, January 23, 2012

Closing Bell

Carbon pulled back today testing the support at 7.00 EUR. The fall can be partially due to profit taking, after the price rally from last week. The last closing candle – green and on good volume – can spark some optimism and expectations for some gains tomorrow. However with some governmental EUA auctions taking place this week, and forecasts of rather mild weather (which can result in low energy demand) the upside can be limited.

Levels to watch are 7.20/7.15 (near today’s close on EUA Dec12) – 7.00 – 6.85 (for a support).

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