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ICE EUA FUTURES TECHS: (Z5) Losing Streak Extends to Eight Sessions

ICE EUA FUTURES TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €86.75 - 1.236 proj of the Dec 17 - Jan 3 - Jan 9 price swing
  • RES 3: €85.00 - Round number resistance
  • RES 2  €84.50 - High Jan 30 and the bull trigger
  • RES 1: €80.49 - High Feb 13
  • PRICE: €72.50 @ 11:38 GMT Feb 20
  • SUP 1: €72.26 - Low Feb 20
  • SUP 2: €71.86 - 61.8% retracement of the Dec 17 - Jan 30 bull leg
  • SUP 3: €70.40 - Low Dec 30 ‘24
  • SUP 4: €68.88 - 76.4% retracement of the Dec 17 - Jan 30 bull leg

ICE EUA futures have traded lower again Wednesday, extending the losing streak to eight consecutive sessions, confirming the bear leg posted off the Jan 30 high. The contract is further through support at the 50-day EMA, at €76.74. The break has extended through deeper support at €74.28, a Fibonacci retracement. On the upside, initial firm resistance is seen at €80.49, the Feb 13 high. A breach would highlight a potential reversal.

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  • RES 4: €86.75 - 1.236 proj of the Dec 17 - Jan 3 - Jan 9 price swing
  • RES 3: €85.00 - Round number resistance
  • RES 2  €84.50 - High Jan 30 and the bull trigger
  • RES 1: €80.49 - High Feb 13
  • PRICE: €72.50 @ 11:38 GMT Feb 20
  • SUP 1: €72.26 - Low Feb 20
  • SUP 2: €71.86 - 61.8% retracement of the Dec 17 - Jan 30 bull leg
  • SUP 3: €70.40 - Low Dec 30 ‘24
  • SUP 4: €68.88 - 76.4% retracement of the Dec 17 - Jan 30 bull leg

ICE EUA futures have traded lower again Wednesday, extending the losing streak to eight consecutive sessions, confirming the bear leg posted off the Jan 30 high. The contract is further through support at the 50-day EMA, at €76.74. The break has extended through deeper support at €74.28, a Fibonacci retracement. On the upside, initial firm resistance is seen at €80.49, the Feb 13 high. A breach would highlight a potential reversal.