Carbon Emissions - Daily

Carbon has tested the support level at ?84.17 and still remains in the red. A break below ?84.17 may see the price fall further.

From a technical outlook, carbon is currently trading at around €85.03. Applying the Bollinger Bands to the chart, carbon has been in a bearish trend since Tuesday 13th of December with support levels now sitting at €84.17 (correspondent with the moving average of the Bollingers) and then at €83.07. A break below the MA of the Bollingers and €83.07 could see the price of carbon fall towards the low 80s. However, if the bullish trend from the back end of October is to continue, resistance sits at €86.12 then at €87.71 then at €88.63. A break above these levels may see the price of carbon head back towards that €90 level seen last week. Looking at the indicators, MACD is currently negative but RSI remains slightly positive as it reads 55.