While Monday and Tuesday were strictly bearish, the Wednesday market showed renewed buying interest and lifted V2-03 back into the 260s. Weather forecasts are very wet, and the movements this morning are driven purely by trading interests, according to one trader. With the low-pressure line-up from the west he believed that chances are good on the downside ahead, while an international trader believed in a continued lift as the weather outlooks have become marginally drier the last couple of days.
Less precipitation than forecasted was delivered yesterday, but weather forecasts are still really wet, and out of the 1.4 TWh predicted, 1 TWh was delivered over Scandinavia. That is well above normal, some 750 GWh, and with a continued delivery pattern like this, prices again could fall, a Norwegian trader stated. At the moment there is no trend, but this trader believed that much bullish
Mittwoch, 30.04.2003, 11:57 Uhr
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