ESG themed investments continue to gain popularity, and the relatively new (and red hot) Carbon ETF (KRBN) is no exception.

This index follows the European and North American cap and trade carbon markets. And since its inception, it has spent most of the time inside a rising bullish price channel.

That is the definition of a strong up-trend.

(Click on image to enlarge)

This is highlighted on today’s “daily” chart of the Carbon ETF (KRBN).

The recent rally has KRBN testing the top of its price channel. And at the same time, its relative strength is at 94. Is it ready to breakout of this channel and head higher yet? Or is it overheated and in need of a breather?