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ICE EUA FUTURES TECHS: (Z4) Structure Remains Bullish

ICE EUA FUTURES TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €72.21 - High Aug 28
  • RES 3: €71.26 - 76.4% retracement of the Aug 20 - Oct 9 bear leg
  • RES 2  €70.44 - High Sep 3
  • RES 1: €69.72 - Intraday high     
  • PRICE: €69.53 @ 13:28 GMT Nov 18
  • SUP 1: €65.39/62.37 - Low Nov 8 / 6 
  • 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  

ICE EUA futures have traded to a fresh cycle high today, starting the week on a bullish note.  Key short-term resistance at €67.75, the Oct 29 high and a bull trigger has been cleared - a positive development. This confirms a resumption of the bull cycle that started Oct 9 and sights are on €71.26, a Fibonacci retracement point. Clearance of this level would strengthen a bullish theme. Key support lies at €62.37, the Nov 6 low. 

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  • RES 4: €72.21 - High Aug 28
  • RES 3: €71.26 - 76.4% retracement of the Aug 20 - Oct 9 bear leg
  • RES 2  €70.44 - High Sep 3
  • RES 1: €69.72 - Intraday high     
  • PRICE: €69.53 @ 13:28 GMT Nov 18
  • SUP 1: €65.39/62.37 - Low Nov 8 / 6 
  • 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  

ICE EUA futures have traded to a fresh cycle high today, starting the week on a bullish note.  Key short-term resistance at €67.75, the Oct 29 high and a bull trigger has been cleared - a positive development. This confirms a resumption of the bull cycle that started Oct 9 and sights are on €71.26, a Fibonacci retracement point. Clearance of this level would strengthen a bullish theme. Key support lies at €62.37, the Nov 6 low.