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ICE EUA FUTURES TECHS: (Z5) Trend Structure Remains Bullish

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      
  • PRICE: €81.16 @ 13:15 GMT Feb 12
  • SUP 1: €80.39 - 20-day EMA 
  • SUP 2: €76.57 - 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, with prices trading closer to their recent highs. The latest gains maintain the price sequence of higher highs and higher lows. Furthermore, moving average studies are in a bull-mode position highlighting a dominant uptrend. The focus is on a climb towards €86.75, the 1.236 projection of the Dec 17 - Jan 3 - Jan 9 price swing. A key short-term support lies at €80.39, 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  €85.00 - Round number resistance 
  • RES 1: €84.50 - High Jan 30      
  • PRICE: €81.16 @ 13:15 GMT Feb 12
  • SUP 1: €80.39 - 20-day EMA 
  • SUP 2: €76.57 - 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, with prices trading closer to their recent highs. The latest gains maintain the price sequence of higher highs and higher lows. Furthermore, moving average studies are in a bull-mode position highlighting a dominant uptrend. The focus is on a climb towards €86.75, the 1.236 projection of the Dec 17 - Jan 3 - Jan 9 price swing. A key short-term support lies at €80.39, the 20-day EMA.