Expert Insights on Green Energy Shift

The surge in environmentally friendly energy alternatives has ignited a spark in the demand for essential metals, as forecasted by renowned economist and commodities expert Patricia Mohr. Speaking at the Prospectors And Developers Association of Canada (PDAC) conference, Mohr expressed her optimistic stance on the future of copper and uranium. With copper’s integral role in powering the energy landscape, especially in renewables, Mohr anticipates a substantial rise in its value. She also foresees a potential upsurge in uranium’s demand, aligning with the global shift towards greener resources.

Market Investment Opportunity

For investors eyeing the base metals sector, Teucrium’s AiLA Long-Short Base Metals Strategy ETF (OAIB) stands as a viable choice. This ETF is designed to focus on crucial commodities and implements a market-neutral approach aiming for positive returns, regardless of market movements. The fund tracks the AiLA-S022 index, exhibiting a commendable annualized return of 12.65% from 2017 to 2023. Utilizing a systematic methodology driven by proprietary machine learning technology contributing to these favorable results.

Technical Analysis Outlook

Analyzing copper from a technical perspective indicates a promising journey ahead over the medium-to-long term. The commodity is currently navigating a descending channel pattern on the daily chart, hinting at a bullish trajectory to come.

The Copper Chart: Copper has entered a descending channel pattern since March 18, marked by a succession of lower highs and lower lows. Recent price action mirrors a lower high at $4.13 on March 21, with the most recent lower low recorded at $3.98.

• Thursday signaled a potential long-legged doji candlestick formation on the daily chart, showcasing a battle between bullish and bearish forces, potentially forecasting a retracement.
• Descending channel patterns typically signal short-term bearish trends but can precede longer-term bullish reversals when broken with heightened trading volume.
• Copper’s immediate hurdles include resistance levels at $4.13 and $4.23, with support anticipated at $4.02 and $3.91.