Thursday, January 26, 2012

A continuous rise of the carbon

Carbon had yet again proven to be strong, supported by a decent volume traded on the power market and other markets rising as well (Fed announcements of “exceptionally low rates” until late 2014 gave a boost to the wider financial markets).

Dec12 EUA traded within some 25c range, supported @ 7.57-7.60 but capped 7.80-7.82.

The price bouncing off the pivot point (orange line) could have been read as an entry signal for long position, however with a resistance levels being so close (R1 ~7.68, R2 ~7.83) and eventually Stop Losses located somewhere @ 7.40 and 7.30 the risk-return is not too attractive here.

Again long green closing candle – bouncing of the “pivot point” may imply a continuation of the trend tomorrow.

1 comment:

  1. I believe the rise of carbon can be continuously expected over the years.

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