More and more metal smelters are falling victim to the European energy crisis. Last week, Nyrstar, a large European zinc smelter, announced it would shutter production at its Dutch Budel facility from 1 September 2022 and Norsk Hydro, a significant aluminium producer in Norway, said it will close its Slovakian smelter around the same time.
Aluminium is one of the...
Fundamentals :
Natural gas and energy prices will continue to shock the markets for the winter. Euro's trade balance is out of whack. I believe that shorting EURAUD matches this view.
Technicals :
Clear downtrend
downward trendlines
Scott Carney's butterfly pattern (hopefully, it is a correct....)
Bearish Cloud
Tested the Resistance Band
Under the 200...
