Quarterly Outlook
Investor Outlook: Beyond American shores – why diversification is your strongest ally
Jacob Falkencrone
Global Head of Investment Strategy
Technical Analyst, Saxo Bank
Henry Hub Gas closed yesterday below key support at $6.30 and could be in free fall to July lows around 5.32. Henry Hub would then have reached its Shoulder-Head-Shoulder target illustrated by the two vertical arrows.
To reverse this continued bearish picture Henry Hub Gas must close above 7.20.
Carbon Emission has been stepping sideways for several weeks by now. However, that might soon change. Emission prices are likely to resume down trend if it breaks below 65 followed by RSI closing back below 40. RSI is showing bearish sentiment and currently testing its lower corrective rising trendline.
For Carbon Emission to reverse the downtrend a close above 71.36 is needed.
Q3 Macro Outlook: Less chaos, and hopefully a bit more clarity