The market is back on the strong bear track today, and the forwards are down 4-5 NOK/MWh across the board. According to one analyst, persistent mild and dry weather forecasts could push the spot down towards 200 NOK/MWh before Christmas.
Yesterday’s rising prices were described as nothing more than a correction to the bear trend, and the market is back down today to test the new support levels of 230 on the V1-05 contract and 220 on Year 05. – We had an adjustment yesterday, but now we are back testing the downside. It remains to be seen whether we will break through the new support levels though. We have had
Mittwoch, 8.12.2004, 11:40 Uhr
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