February 13, 2025 13:36 GMT
ICE EUA FUTURES TECHS: (Z5) Double Top Reversal
ICE EUA FUTURES TECHS
- 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: €78.40 @ 13:25 GMT Feb 13
- SUP 1: €77.79 - Intraday low
- SUP 2: €76.71 - 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, this week’s move lower highlights a corrective cycle. A double top pattern on the daily frequency, confirms a short-term top. Attention is on the next key support at €76.71, the 50-day EMA. A clear break of this average would highlight a stronger reversal and signal scope for a deeper retracement. Key resistance and the bull trigger is at €84.50, clearance of it would resume the uptrend.
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