The increased electricity prices are a burden for many consumers. Most recently, these have risen to over 500 euros per megawatt hour.
(Photo: dpa)
Dusseldorf The price of electricity is rising and is at a record level. Many consumers are therefore wondering how far it will go up. Technical analysts at major bank HSBC have tried to approach this question using technical analysis – and the result gives little hope.
Technical analysts do not derive their forecasts from real economic developments, but from the chart of prices and recurring patterns. They contain all fundamental developments and information. From this they try to draw conclusions about future developments.
“The electricity price is currently one of the most discussed charts on the financial market,” says Jörg Scherer, technical analyst at HSBC. “This is the strongest uptrend I’ve seen in recent years.”
Most recently, the mark of 500 euros per megawatt hour was broken for the first time. “A record high is the strongest signal that can be sent from a technical point of view,” says Scherer.
Top jobs of the day
Find the best jobs now and
be notified by email.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue