Looking for Carbon to stall ahead of 6.00

Commerzbank commoditiesICE ECX Carbon Emissions Dec 2013 – Daily Chart

Looking for Carbon to stall ahead of 6.00.

  • December 2013 ICE ECX Carbon Emissions have pushed higher to 5.83 but appear to be struggling to maintain a foothold above the 5.57 January high. We note the divergence of the daily RSI, which depicts a loss of upside momentum, we also have a 13 count on the TD combo – which depicts increasing likelihood of failure. Currently we would allow for a retracement to the 55 and 200 day moving averages circa 4.60/52, but currently we look for 4.38, the 3rd September low to hold.
  • We strongly suspect we will see failure initial failure ahead of 6.00 and if not already done so we would strongly recommend that stops are tightened.
  • Above 6.00 would suggest an extension to 6.48, the April 2012 low.

ICE ECX Carbon emissions - Daily technical chart

ICE ECX Carbon Emissions Dec 2013 – Weekly Chart

Rally has reached the 55 week ma at 5.52.

Weekly technical price chart of ICE ECX carbon emissions

One thought on “Looking for Carbon to stall ahead of 6.00”

  1. Persson skriver:

    Gissar att det inte är många i Sverige som tradar detta, men det är ju klart intressant då det påverkar elpriset i Sverige.

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