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ICE EUA FUTURES TECHS: (Z4) Bull Cycle Still In Play

ICE EUA FUTURES TECHS
  • RES 4: €80.00 - Psychological round number  
  • RES 3: €78.10 - High May 23 and key resistance  
  • RES 2: €74.83 - 76.4% retracement of the May 23 - Jul 22 bear leg  
  • RES 1: €74.75 - High Aug 20       
  • PRICE: €72.52 @ 13:17 BST Aug 21
  • SUP 1: €70.83/67.85 - 20-day EMA / Low Aug 5
  • SUP 2: €64.24 - Low Jul 22 and the bear trigger
  • SUP 3: €62.29 - Low Apr 10  
  • SUP 4: €56.90 - Low Apr 3  

A bullish theme in ICE EUA futures remains intact and price traded higher Tuesday. The contract recently cleared an important short-term resistance at €71.95, the Jul 3 high. The move signals scope for an extension towards €74.83, a Fibonacci retracement. Clearance of this price point would open €78.10, the May 23 high and a key resistance. Initial firm support to watch lies at €67.85, the Aug 5 low. 

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