Friday, August 10, 2012

Too strong resistance

Carbon failed to break above the resistances created by the DMAs (check our previous Carbon post) and effectively fell below 7.20 euro which seems at the moment to be an important support-resistance. We are now faced with a rather psychological 7.00 euro barrier - there is nothing really that should keep EUA here other than traders perspective of a round number being a good support. Next levels can be 6.85 euro and 6.53 euro.

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