The quite strong upside movements in the market continues on Friday, helped by drier weather forecasts. “But the recent uptrend is not fundamentally based,” argues traders Montel Powernews spoke to this morning.
“I have the impression that some strong traders are trying to drive the market a bit. They are using the drier and colder forecasts to push prices up, and then the more fundamentally based players get nervous. But the 168-169 NOK/MWh level is a strong resistance area on the summer from a technical perspective, and the market has been unable to break through this level today,” says
Freitag, 11.02.2005, 11:58 Uhr
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