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Looking for Carbon to stall ahead of 6.00



Commerzbank commodities research

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

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1 Comment

1 Comment

  1. Persson

    19 september, 2013 at 03:27

    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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