Nordic forwards are rising on Wednesday morning due to drier forecasts and technical signals, but the front looks "overbought” as the fundamentals and marginal production costs have not improved, traders said.
The Q4 10 contract had gained EUR 0.95 day on day and was last seen at EUR 49.60/MWh, while YR 11 had risen EUR 0.55 at EUR 45.00/MWh. "Despite a drier outlook, Q4 looks a bit overbought, the fundamentals and marginal production costs haven't followed suit,” continental trader said.
"It seems like players are in a buying mood, on drier weather and technical signa
Mittwoch, 25.08.2010, 10:47 Uhr
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