Tuesday, January 10, 2012

Colder weather gives support to EUA

Slowly and steadily, carbon broke today from the last month resistance of 7.00 EUR and established a base for further gains this week - which can be only overshadowed by the EIB report on their progress on sale of EUA from the NER300. The report is due tomorrow around 6pm.

Failing to break further above 7.37 EUR (top blue line) doesnt mean anything bad or bearish yet. Positive re-test of 7.00 EUR towards the close gives a pretty good support. Having said that - trade for tomorrow is to buy on the break above 7.25 with stop loss 6.90.

1 comment:

  1. Using portable wind meters you can easily forecast the weather report. I am thinking of studying on meteorology and so I think experiencing these from now will be helpful for me.