Climate change is significantly increasing the importance of hydrogen.
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In fact, its use in various areas of production is one of the most important energy carriers of the coming decades as it will foster the development of eco-friendly mobility.
The Hang Seng Hydrogen Index, after having fallen to a low of 5,827 points at the beginning of February, started an important upward movement and moved close to 7,050.
The short-term technical structure appears constructive: after a brief reaccumulative phase, necessary to discharge the strong overbought recorded by the most reactive oscillators, a new extension is therefore possible.
A breakout of 7,050 points will open up further room for growth, with a first target in the 7,180-7,190 area and a second target at 7,250-7,260 points.
A possible correction will instead find a first support at 6,600 and a second support in the 6,425-6,400 points area.
Only a return below this area could provoke a bearish trend reversal.
The following ETFs can be used to invest in hydrogen:
L&G Hydrogen Economy, ISIN IE00BMYDM794. It is an ETF with €384m in assets under management, which provides for the total physical replication of the underlying (represented by the Solactive Hydrogen Economy index) and which adopts an accumulation policy (with dividends being reinvested within the fund). The total expense ratio (TER) is 0.49% per annum.
VanEck Hydrogen Economy, ISIN IE00BMDH1538. It is an ETF with €64m in assets under management, which provides full physical replication of the underlying (consisting of the MVIS Global Hydrogen Economy ESG index) and adopts an accumulation policy (with dividends being reinvested within the fund). The total expense ratio (TER) is 0.55% per annum.
Bnp Paribas Global ESG Hydrogen Economy, ISIN LU2365458145. This ETF has assets under management of EUR 18 mn, provides for total physical replication of the underlying (represented by the ECPI Global ESG Hydrogen Economy index) and adopts an accumulation policy (with dividends being reinvested within the fund). The total expense ratio (TER) is 0.30% per annum.
Copyright DMF New Media – ETFWorld.co.uk
Reproduction prohibited in any form, even partial
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