The market opened strongly this morning, with the SO-05 contract testing the 173 NOK/MWh level. Later prices adjusted downwards, and a Norwegian trader believes that we may enter a period of range trading between 170 and 180 NOK/MWh on the summer contract.
The Norwegian trader said that we have been witnessing “a perfect technical correction” in the forwards market. – Since the market bottomed out with a closing of 149.50 on 12 January, we have seen a correction up to the 173.50 area from 5 January. Having reached that level, we are coming down again. The question now is whether we will head down towards 150 again, or if we will
Mittwoch, 19.01.2005, 12:12 Uhr
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