The market felt slightly directionless today, with players looking for cues as to which way to trade and not quite sure what to do.

The dichotomy, is this at the moment there is plenty of supply, many of the fundamental markets which influence each other are also over supplied and so one would expect a greater selling pressure. But with so much unknown in particular weather and carbon and the rumblings abroad specifically relating to oil. Players are reluctant to go for a big push south. Furthermore, when some selling does occur the buyers appear to be willing to step up.

This impasse is not helping the market but it is something which when it breaks will show the players in which direction to jump. In fact history suggests that it is more likely to be sold down but one cannot rely on history.