Short
Carbon outlook changes to bearish
Hello folks,
A number of fundamental changes have affected EU ETS allowances, which are currently breaching MA200 - a strong technical level.
Weak EUETS auctions, low/negative dark spreads and Brexit concerns have provided pressure. Technically, Fibonacci 61%(used for resistance levels), and MA200 have been breached. All technicals, except RSI (which is not my favorite in trending markets), show further bearishness.
Happy to hear your thoughts!
Peace
A
A number of fundamental changes have affected EU ETS allowances, which are currently breaching MA200 - a strong technical level.
Weak EUETS auctions, low/negative dark spreads and Brexit concerns have provided pressure. Technically, Fibonacci 61%(used for resistance levels), and MA200 have been breached. All technicals, except RSI (which is not my favorite in trending markets), show further bearishness.
Happy to hear your thoughts!
Peace
A
Trade closed: stop reached
stop loss reached, trade is closed.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.