RENEWABLES: CWE Morning Solar Forecast

• RES 4: $77.85 - 2.794 proj of the Apr 9 - 23 - May 5 price swing
• RES 3: $75.65 - 2.500 proj of the Apr 9 - 23 - May 5 price swing
• RES 2: $74.25 - High Jun 23 and a bull trigger 
• RES 1: $66.03/69.36 - High Sep2 / High Jul 30 and key resistance   
• PRICE: $63.42 @ 07:13 BST Sep 16
• SUP 1: $61.29 - Low Aug 13 and the bear trigger 
• SUP 2: $57.71 - Low May 30
• SUP 3: $54.80 - Low May 5
• SUP 4: $54.03 - Low Apr 9 and a key support

The trend condition in WTI futures is unchanged - a bear cycle remains intact and short-term gains are considered corrective. The pullback from the Sep 2 high highlights a possible recent reversal and the end of a corrective phase between Aug 13 - Sep 2. Initial resistance to watch is $66.03, the Sep 2 high. Key short-term resistance has been defined at $69.36, the Jul 30 high. A stronger resumption of weakness would open $57.71, the May 30 low. 

"*NORWAY'S PRIME MINISTER TO MAKE CHANGES TO GOVERNMENT" Bloomberg 

No details as of yet on Norway's Government changes. The headline comes from this press release

• "In a cabinet meeting at the Palace today at 10:00 AM [CET] changes will be made to the government".
• "After the cabinet meeting, at approximately 10:15 a.m., there will be a photo opportunity at the Palace Square. The Prime Minister will come out with newly appointed ministers."

Follows last week's elections, where PM Store's Labour Party remained the largest party. However, the results saw notable swings in the opposition amongst the Conservatives and Progress Party.

There's some early activity in Euribor calendar spread, and while aren't too big, the far out ones stand out.

In the front:

• ERH6/Z6 is sold down to 4.5, spread has traded in 8.5k total.

Far out:

• ERU9/Z9 is trading at mid 4 in ~5.4k so far.