MNI BRIEF: BOC Sees Milder Reaction To Tariffs Than To Covid

BOC SAYS ITS RESPONSE TO A TARIFF WAR WON'T BE LIKE IN COVID

BOC: TRADE THREATS ALREADY BLURRING DOMESTIC ECONOMIC REBOUND

MNI INTERVIEW2 -Banxico Optimistic On Non-Core Inflation-Heath

MNI China Daily Summary: Friday, February 21

MNI BOK WATCH: Board To Ease Base Rate To 2.75%

MNI: BAKER HUGHES US RIG COUNT 592; OIL RIGS 488; GAS RIGS 99

BAKER HUGHES CANADA RIG COUNT 244; OIL RIGS 174; GAS RIGS 70

MNI: US NAR: JAN EXISTING HOME SALES 4.08M SAAR

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ICE EUA FUTURES TECHS: (Z5) Corrective Cycle

ICE EUA FUTURES TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €88.55 - 1.382 proj of the Dec 17 - Jan 3 - Jan 9 price swing
  • RES 3: €86.75 - 1.236 proj of the Dec 17 - Jan 3 - Jan 9 price swing
  • RES 2  €85.00 - Round number resistance 
  • RES 1: €84.50 - High Jan 30 and the bull trigger.       
  • PRICE: €77.76 @ 13:15 GMT Feb 17
  • SUP 1: €77.25 - Low Feb 14  
  • SUP 2: €76.88 - 50-day EMA
  • SUP 3: €71.55 - Low Sep 9
  • SUP 4: €67.36 - Low Dec 23

A bull cycle in ICE EUA futures remains intact, however, last week’s move lower highlights a corrective cycle. A double top pattern on the daily chart confirms a short-term reversal. Attention is on the next key support at €76.88, the 50-day EMA. A clear break of the EMA would highlight a stronger reversal and signal scope for a deeper retracement. Key resistance and bull trigger is €84.50, the Jan 30 high. Clearance of this hurdle would resume the uptrend. 

161 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • RES 4: €88.55 - 1.382 proj of the Dec 17 - Jan 3 - Jan 9 price swing
  • RES 3: €86.75 - 1.236 proj of the Dec 17 - Jan 3 - Jan 9 price swing
  • RES 2  €85.00 - Round number resistance 
  • RES 1: €84.50 - High Jan 30 and the bull trigger.       
  • PRICE: €77.76 @ 13:15 GMT Feb 17
  • SUP 1: €77.25 - Low Feb 14  
  • SUP 2: €76.88 - 50-day EMA
  • SUP 3: €71.55 - Low Sep 9
  • SUP 4: €67.36 - Low Dec 23

A bull cycle in ICE EUA futures remains intact, however, last week’s move lower highlights a corrective cycle. A double top pattern on the daily chart confirms a short-term reversal. Attention is on the next key support at €76.88, the 50-day EMA. A clear break of the EMA would highlight a stronger reversal and signal scope for a deeper retracement. Key resistance and bull trigger is €84.50, the Jan 30 high. Clearance of this hurdle would resume the uptrend.