Double Bottom May Point to Rebound in Europe Carbon Price: Chart

Benchmark EU carbon allowances are poised to recover most of February’s losses as a trading pattern known as a double bottom indicates a price reversal. A move above 5.17 euros ($5.76) a metric ton will confirm the pattern, which follows the two intraday lows of 4.62 euros in the past week, according to Clive Lambert, founder of FuturesTechs in Leigh-on-Sea, England. The target price of 5.72 euros is twice the distance from the recent 23-month lows and the trigger level of 5.17 euros, the high on Feb. 12.

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