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ICE EUA FUTURES TECHS: (Z4) Approaching Key Support

ICE EUA FUTURES TECHS
Energy BulletsBulletPower BulletsEnergy Technical AnalysisCommodities
  • RES 4: €74.75 - High Aug 20 and key resistance 
  • RES 3: €72.21 - High Aug 28
  • RES 2: €70.99 - High Sep 2  
  • RES 1: €67.18/69.13 - High Sep 10 / 50-day EMA      
  • PRICE: €64.71 @ 13:34 BST Sep 13
  • SUP 1: €64.61 - Low Sep 11 
  • SUP 2: €64.24 - Low Jul 22 and the bear trigger
  • SUP 3: €62.29 - Low Apr 10 
  • SUP 4: €61.40 - 61.8% retracement of the Feb 23 - May 23 bull cycle 

A bearish theme in ICE EUA futures remains intact and the contract is trading lower today. The latest move down exposes the next key support at €64.24, the Jul 22 low and a bear trigger. Clearance of this level would strengthen a bearish theme and open €61.40, a Fibonacci retracement point. On the upside, initial firm resistance is seen at €69.13, the 50-day EMA. A break of this EMA is required to signal a possible reversal.

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  • RES 4: €74.75 - High Aug 20 and key resistance 
  • RES 3: €72.21 - High Aug 28
  • RES 2: €70.99 - High Sep 2  
  • RES 1: €67.18/69.13 - High Sep 10 / 50-day EMA      
  • PRICE: €64.71 @ 13:34 BST Sep 13
  • SUP 1: €64.61 - Low Sep 11 
  • SUP 2: €64.24 - Low Jul 22 and the bear trigger
  • SUP 3: €62.29 - Low Apr 10 
  • SUP 4: €61.40 - 61.8% retracement of the Feb 23 - May 23 bull cycle 

A bearish theme in ICE EUA futures remains intact and the contract is trading lower today. The latest move down exposes the next key support at €64.24, the Jul 22 low and a bear trigger. Clearance of this level would strengthen a bearish theme and open €61.40, a Fibonacci retracement point. On the upside, initial firm resistance is seen at €69.13, the 50-day EMA. A break of this EMA is required to signal a possible reversal.