Thursday, September 26, 2013

Range-bound market

For nearly a week carbon is locked in a fair range of 5.30-5.55 euro. Intraday chart could point to a formation of a small downtrend.

However, most recent behavior, support at 5.35, can potentially give small kick to the price as we seem to have a double bottom here. As a confirmation, we need to see the price breaking above 5.52 and 5.57. Having said all that, market possibly will move in a range. Lacking other price drivers, carbon could well follow any move in German Power.

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