The Friday market was unambiguously bearish, and SO2 broke down through the strong NOK 120 support level, while Winter2 traded down to NOK 157.50, demonstrating its bearish ruling. The fact that some players seem to have been waiting for a change to a drier weather trend was scattered today, and traders we spoke with seem to agree that the most certain way from here is down.
The question is how far south it will fall before as well as after the weekend, while before delivery SO2 has set its eye on NOK 116 again. The significant fall this morning is fundamental, and as the spot has fallen 10 NOK twice this week, we could be in for another fragile surprise for Saturday a Norwegian trader said. According to an international trader the last week’s general
Freitag, 26.04.2002, 12:11 Uhr
Sara Fagernes
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