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ICE EUA FUTURES TECHS: (Z4) Bulls Remain In The Driver’s Seat 

ICE EUA FUTURES TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €74.75 - High Aug 20 and a key resistance  
  • RES 3: €72.21 - High Aug 28
  • RES 2  €71.26 - 76.4% retracement of the Aug 20 - Oct 9 bear leg
  • RES 1: €70.33 - Intraday high      
  • PRICE: €70.22 @ 13:27 GMT Nov 21
  • SUP 1: €65.39/62.37 - Low Nov 8 / 6 and a key support 
  • SUP 2: €61.29/59.95 - Low Oct 22 / 9 and the bear trigger
  • SUP 3: €59.69 - Low Apr 8
  • SUP 4: €57.46 - 76.4% retracement of the Feb 23 - May 23 bull cycle  

A bullish theme in ICE EUA futures remains intact and the contract is trading higher today and has delivered a fresh cycle high. This maintains the current sequence of higher highs and higher lows, signalling scope for a continuation of the trend, near-term. The focus is on a climb towards €71.26, a Fibonacci retracement. Key support lies at €62.37, the Nov 6 low. Initial firm support is seen at €65.39, the Nov 13 low. 

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  • RES 4: €74.75 - High Aug 20 and a key resistance  
  • RES 3: €72.21 - High Aug 28
  • RES 2  €71.26 - 76.4% retracement of the Aug 20 - Oct 9 bear leg
  • RES 1: €70.33 - Intraday high      
  • PRICE: €70.22 @ 13:27 GMT Nov 21
  • SUP 1: €65.39/62.37 - Low Nov 8 / 6 and a key support 
  • SUP 2: €61.29/59.95 - Low Oct 22 / 9 and the bear trigger
  • SUP 3: €59.69 - Low Apr 8
  • SUP 4: €57.46 - 76.4% retracement of the Feb 23 - May 23 bull cycle  

A bullish theme in ICE EUA futures remains intact and the contract is trading higher today and has delivered a fresh cycle high. This maintains the current sequence of higher highs and higher lows, signalling scope for a continuation of the trend, near-term. The focus is on a climb towards €71.26, a Fibonacci retracement. Key support lies at €62.37, the Nov 6 low. Initial firm support is seen at €65.39, the Nov 13 low.