Carbon Emissions - Daily

Carbon continues to bounce around at $90 but also holds medium-term support dating back to October.

Carbon Emissions (EUETS) continue to form more of a base between $87-$90 and looks as though it may be breaking out of the support zone. Risk-on markets will help bouy this market higher however if markets turn lower of BoE or risk-off market sentiment, a further test of the trendline could be possible. Towards the upside $92 is the first line of resistance, followed by $95.23. RSI currently reads 45 with MACD negative, but turning higher suggests momentum to the upside could be picking up.