Carbon Emissions Bears May Be Tiring
17 November 2011
WEEKLY CHART -CONTINUATION
Earlier 76.4% support later failed, with not much in the way of a return to towards the 8.05 Feb-09 low, where there is a floor for non-technical reasons.
DAILY CHART -Dec-11:
Note how the downmove has started to slow. This is demonstrated by the current positive RSI divergence.
Note key resistance lies some way off at present, provided by the 12.72 38.2% recovery level and bear channel top projection in the same area just now. In the Commodity Specialist Guide we are staying on the sidelines at the moment.
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