Technical Comment: Carbon emissions are on a long-term upward trend, with the short-term correction finished. The price in June for several consecutive days tested the main diagonal support and Fibonacci level 23.6, with no success. The price remains far away from the 200-year average, and it is currently over 50 - the period. The price went up and bears the flag, which strengthened its place back into the upward trend and over 50's. The long position is occupied on June 20 with a small volume with the idea of upgrading. The price is currently adjustable after reaching the upper resistance levels at 27.40. I expect a correction of up to 50 - the period with which to take new long positions. Here the stop is already shifted above zero.
Fundamental Commentary: Demand for emission contracts will remain in place in the long run, as I expect the price to come out of the upper resistance zone. By setting a higher price to cover greenhouse gas damage, emissions will become more expensive because companies will have to cover an ever-increasing cost. With exponential increases in charges and requirements, the price of emissions will also rise.
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