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ICE EUA FUTURES TECHS: (Z5) Monitoring Resistance

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: €68.58/70 - 50-day EMA / Intraday high      
  • PRICE: €67.67 @ 13:12 GMT Dec 20
  • SUP 1: €64.05 - Low Dec 17  
  • 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

The recent sell-off in ICE EUA futures marks a reversal of a bull cycle that started early October, and this signals scope for a bear extension near term. €64.35, the Nov 6 low and a key level, has been pierced. A clear breach of this price point would strengthen a bearish theme and open €61.98, the Oct 9 low and a key support. Initial firm resistance to watch is  €68.58, the 50-day EMA. It has been pierced but remains intact, for now.

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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: €68.58/70 - 50-day EMA / Intraday high      
  • PRICE: €67.67 @ 13:12 GMT Dec 20
  • SUP 1: €64.05 - Low Dec 17  
  • 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

The recent sell-off in ICE EUA futures marks a reversal of a bull cycle that started early October, and this signals scope for a bear extension near term. €64.35, the Nov 6 low and a key level, has been pierced. A clear breach of this price point would strengthen a bearish theme and open €61.98, the Oct 9 low and a key support. Initial firm resistance to watch is  €68.58, the 50-day EMA. It has been pierced but remains intact, for now.