As anticipated in our blog entry on 8th April the front year German power price reached the 35 euro level and hit a daily high at 35.10 euro today. The 35.10 euro level is a weak resistance, a daily low from 26th February.
The MACD is still in the negative territory, but RSI managed to come off the levels near 30 and is at 55 today.
The next resistance level is at 35.55 euro (a local high from 21st March).
Stop-loss orders for long positions can be put to the 20- and 30DMAs (at 34.64 euro and 34.37 euro respectively).