Carbon ETF Testing Breakout Price Channel Resistance
Chris Kimble | Nov 22, 2021 10:31AM ET
ESG-themed investments continue to gain popularity, and the relatively new (and red hot) KraneShares Global Carbon ETF (NYSE:KRBN) is no exception.
This index follows the European and North American cap-and-trade carbon markets. And since its inception, it has spent most of the time inside a rising bullish price channel.
That is the definition of a strong up-trend.
This is highlighted on today’s daily chart of the KRBN carbon ETF.
The recent rally has KRBN testing the top of its price channel. And at the same time, its relative strength is at 94. Is it ready to breakout of this channel and head higher yet? Or, is it overheated and in need of a breather? Stay tuned.
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