Carbon continues to fall on lower gas output, however support is below.

Carbon Emissions (EU ETS) continues to fall in recent days as gas prices stay muted. Looking at the chart the commodity has support at around €77.00. A break below here could see carbon drop to towards the October cluster at €67.00. MACD is turning higher but still remains negative with RSI reading of 39.

Towards the upside tough resistance sits at €88.41 (50 SMA), followed by €90.00. It could take a few days before the market decides its direction as the recent spike is now facing resistance on the 4-hourly timeframe.