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The trend is your friend – a chartist’s approach to the current market development

Tuesday, 23 July 2019

  Interactive charts, tables and graphics removed. Subscribers see full content

The GO-market has been characterized by low activity in recent weeks due to many traders being away on holiday. The prices have continued to slide, but on very thin volumes. Traders with short positions have enjoyed a falling price trend since early autumn last year. Are there any signs of a trend reversal, or will the bearish trend continue?

Based on weekly closing prices compared to simple moving average, there are some signs of a possible price recovery. Below we analysed those signs for Nordic Hydro 2018, Nordic Hydro 2019 and Solar 2019.

If we take a closer look at the prices for 2018 Nordic hydro, we see that the graph illustrating the weekly closing prices intersect the simple moving average (SMA 9) from below. This is not sufficient to conclude that we have a trend reversal, but might be seen as an early warning of a ...

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