Potential bounce higher as the Fibonacci level demonstrates a firm support base.

Carbon Emissions are down 3% today but support base is still momentarily established. From a technical outlook, major support base sits at €64.17 which is just below the 0% Fibonacci level. A break below the 0% fib level could see a further fall towards the mid €50’s – low €60’s. Towards the upside, first barrier of resistance sits at €68.31 followed by a resistance level at €71.93 (just below 23.6% fib level). A break above the €71.93 price could stimulate a good rally to break above the 23.6% fib level which currently sits at €73.50. Looking at the indicators MACD is currently neutral, and RSI reads 39, RSI suggests a bearish stance.