German Power is under pressure and testing the important 28.75 level, says David Linton, Chief Executive at Updata.
In his weekly video, Linton asks where the bottom is for German Power and comes up with a cluster of targets between 28.15 and 28.40. There is one upside target on the point-and-figure chart of 31.45 but this is yet to be activated. As such, Linton says German Power remains bearish.
For details, watch Updata’s Technical Analysis for Energy Traders, which includes an analysis of the major energy, currency and stock markets:
European Gas & Power
Coal & Emissions