Carbon Emissions - 4 Hourly

Carbon remains in the bullish trend, now trading at around €84.39. Next tough resistance point at €84.94.

Carbon remains in a bullish trend, with its price now around €84.39. Looking on the 4 hourly timeframe, we can see that the price is supported along the ascending trendline. Currently, the support below sits at €83.29 (along the trendline). A break below this price level could see the price fall lower towards the next level of support sitting at €82.61. However, this would not necessarily mean that a reversal trend has occured. Only a break below the key support of €80.09 could potentially indicate a reversal trend. Towards the upside, minor resistance sits at €84.45 followed by a tougher resistance point at €84.94. A move above €84.94 may open the path towards €86. Looking at the technical indicators, MACD is positiive and so is the RSI as it reads 59.