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ICE EUA FUTURES TECHS: (Z4) Clears Resistance

ICE EUA FUTURES TECHS
BulletEnergy Technical Analysis
  • 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: €73.97 - Intraday high      
  • PRICE: €71.35 @ 15:55 BST Aug 13
  • SUP 1: €67.85 - Low Aug 
  • 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  

ICE EUA futures traded sharply higher Monday. The contract has cleared an important short-term resistance at €71.95, the Jul 3 high. The breach strengthens a bullish theme and 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 lies at €67.85, the Aug 5 low. 

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  • 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: €73.97 - Intraday high      
  • PRICE: €71.35 @ 15:55 BST Aug 13
  • SUP 1: €67.85 - Low Aug 
  • 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  

ICE EUA futures traded sharply higher Monday. The contract has cleared an important short-term resistance at €71.95, the Jul 3 high. The breach strengthens a bullish theme and 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 lies at €67.85, the Aug 5 low.