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European Union carbon permits may climb to 16 euros ($20.15) a metric ton after the contract for delivery in December generated a so-called harami pattern on a candlestick chart at the end of last week.
The contract formed a bullish harami pattern on a candlestick chart on July 1, Brett Genus, a London-based broker for Evolution Markets Inc., said July 2 by phone. A bullish harami, where the body of the candlestick is located within the range of the previous days trading, can indicate a reversal during a downtrend.
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