Carbon continues to hold trendline support and is in the process of forming a lower-higher, wedge pattern.

Carbon Emissions (EU ETS) continues to hold trendline support dating back to October, the commodity is currently pulling back from the €98 region seen just last week, with ample support below €93.89, followed by €89.57 and then the trendline support at around €88. A break of this support could see the commodity test the March lows at €84.65. Towards the upside, resistance for carbon now sits at €98.50, followed by the psychological €100. This will be a tough level to break as the past 5 attempts didn't see any successful followthrough.