German Power Falling Off a Cliff Signals It's Time to Buy: Chartby
Now is as good a time as ever to buy electricity in Germany after the benchmark contract slumped 15 percent this year.
The year-ahead contract may increase after the relative-strength index fell to 7.5893 yesterday, the technical indicator’s lowest since trading began in 2002 on the European Energy Exchange AG in Leipzig. RSI shows whether a contract is overbought or oversold. Levels above 70 on 0-100 scale typically indicate prices may be poised to fall, readings below 30 are a signal of a potential impending climb.