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ICE EUA FUTURES TECHS: (Z5) Bull Cycle

ICE EUA FUTURES TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €73.68 - High Nov 25 and the bull trigger
  • RES 3: €72.23 - High Dec 2 
  • RES 2  €71.65 - High Dec 11
  • RES 1: €70.15 - Intraday high      
  • PRICE: €69.62 @ 13:37 GMT Dec 23
  • SUP 1: €64.05 - Low Dec 17 and key short-term support
  • SUP 2: €63.25 - Low Oct 22
  • SUP 3: €61.98 - Low Oct 9 and the bear trigger
  • SUP 4: €60.60 - Low Apr 5

ICE EUA futures are trading higher today, extending the bounce off the Dec 17 low. This strong bounce highlights a potential reversal of the bear leg between Nov 25 - Dec 17. A continuation higher would expose resistance at €71.65, the Dec 11 high. Clearance of this level would expose €73.68, the Nov 25 high and a key resistance. On the downside, key support has been defined at €64.05, the Dec 17 low. A break of it would reinstate a bear theme.

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  • RES 4: €73.68 - High Nov 25 and the bull trigger
  • RES 3: €72.23 - High Dec 2 
  • RES 2  €71.65 - High Dec 11
  • RES 1: €70.15 - Intraday high      
  • PRICE: €69.62 @ 13:37 GMT Dec 23
  • SUP 1: €64.05 - Low Dec 17 and key short-term support
  • SUP 2: €63.25 - Low Oct 22
  • SUP 3: €61.98 - Low Oct 9 and the bear trigger
  • SUP 4: €60.60 - Low Apr 5

ICE EUA futures are trading higher today, extending the bounce off the Dec 17 low. This strong bounce highlights a potential reversal of the bear leg between Nov 25 - Dec 17. A continuation higher would expose resistance at €71.65, the Dec 11 high. Clearance of this level would expose €73.68, the Nov 25 high and a key resistance. On the downside, key support has been defined at €64.05, the Dec 17 low. A break of it would reinstate a bear theme.