Carbon fell quite heavy on Friday afternoon however, it could provide a long opportunity.

Carbon broke through the symmetrical triangle pattern on Friday, however, RSI now reads 35 testing near oversold conditions. The next level of support for Carbon if the trend continues through is to the June 2023 low of 78.00 EUR. A further break of this level would test the 2023 lows at 77.00 EUR seen in January. In such an event the RSI would likely go oversold causing a possible spike or move higher thereafter as this has happened 3 times since 2020 will all three resulting in a rally of more than 40% the weeks after. Even in the short term conditions where the RSI is below 35 have generally resulted in a move higher. Towards the upside, minor resistance sits at 84.50 EUR followed by 87.46 EUR and then 90.00 EUR.