From the Desk of Ian Culley @IanCulley
Don’t let a few days of selling pressure fool you.
Despite intense gold, copper, and crude oil pullbacks, many commodity-related assets are flashing buy signals.
For instance…
The Global Carbon ETF $KRBN:
KRBN holds a basket of European and U.S. carbon allowance futures – also known as carbon credits. Companies use these credits to offset the costs of releasing greenhouse gases.
Interestingly, the similarities between the carbon allowances, copper versus gold, and silver versus gold charts are uncanny. All three are violating multi-year downtrend lines, suggesting bullish trend reversals and a risk-on market environment.
We like KRBN long above 35, targeting 56.
That’s it for today. We’ll be back with more next week.
Thanks for reading.
Premium members, be sure to check out the Commodity Trade of the Week below.
Premium Members can log in to access our Weekly Commodities Report Chartbook and the Trade of the Week. Please log in or start your risk-free 30-day trial today.
Be the first to comment