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ICE EUA FUTURES TECHS: (Z5) Trend Needle Still Points North

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  €83.85 - 1.00 proj of the Dec 17 - Jan 3 - Jan 9 price swing
  • RES 1: €82.00 - High Jan 23       
  • PRICE: €79.36 @ 13:26 GMT Jan 28
  • SUP 1: €76.95 - Low Jan 21 / 20-day EMA 
  • SUP 2: €73.53 - 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 and the contract is trading closer to its recent highs. The rally that started Jan 9, confirmed a resumption of the trend and has maintained the price sequence of higher highs and higher lows. The €80.00 handle has been breached and this opens €83.85, the 1.00 projection of the Dec 17 - Jan 3 - Jan 9 price swing. A key short-term support lies at €76.95, the 20-day EMA.

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  • 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  €83.85 - 1.00 proj of the Dec 17 - Jan 3 - Jan 9 price swing
  • RES 1: €82.00 - High Jan 23       
  • PRICE: €79.36 @ 13:26 GMT Jan 28
  • SUP 1: €76.95 - Low Jan 21 / 20-day EMA 
  • SUP 2: €73.53 - 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 and the contract is trading closer to its recent highs. The rally that started Jan 9, confirmed a resumption of the trend and has maintained the price sequence of higher highs and higher lows. The €80.00 handle has been breached and this opens €83.85, the 1.00 projection of the Dec 17 - Jan 3 - Jan 9 price swing. A key short-term support lies at €76.95, the 20-day EMA.