WHERE TO NOW FOR WATER PRICES?

GreeneyeFlowAnalysis™ (Click on chart to see more detail) validates the normal strong seasonal uptrend for the first few months of the new season with a likely larger range of $300/Ml to $600/ML, with good support just under $400 and strong cyclic forces pushing the market towards the $500-$600 range.

If you look at the longer term weekly charts there is support at $360 (mauve) and then resistance at $450 (red/blue) and then again a few weeks forward at about $500 where the mauve and blue cross. Higher resistance is at $670 (yellow) and declining rapidly.

Once the seasonal strength runs out (typically October), if the market is trading at the top end of its likely range ($500-$600) then the market could reverse sharply to the lower end of the likely range ($250-$300).

We anticipate other fundamental influences such as the Murrumbidgee Embargo's partial lifting and South Australian subsidies could have and effect on prices. With a little rain across the Goulburn Valley in the past days, that first watering may delay the start of the early season spike in the water price. Recent trades as high as $450 have not reached the levels of the past couple. We will bring an updated chart to you later in the week.