With an extended high pressure, fear contributed to lift prices significantly this morning. V1-04 gapped well into the 300s, and the bear trend suddenly belonged to the past. But players continue to argue in favour of the downside, and according to a Norwegian trader the size of the lift was triggered by stop-losses and have-to-buy activities this morning, not because traders were going long. “It can’t be pleasant to buy now,” he said. “It’s the fear of a blocking high,” another Norwegian player said.
Weather outlooks were bullish and V1-04 gapped up and traded as high as 312 NOK/MWh this morning. Players we spoke with were not too worried that things would take off, however, but argued that the concept of fear adds to the high pressure and possibly lifted prices a little too excessive. Fear of highThe Norwegian player said that the single reason for the gap wa
Dienstag, 7.10.2003, 12:03 Uhr
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