ICE EUA FUTURES TECHS: (Z5) Trend Needle Points North
Feb-06 13:43
- 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: €82.80 @ 13:31 GMT Feb 6
- SUP 1: €79.37 - 20-day EMA
- SUP 2: €75.55 - 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 latest pullback appears corrective. Recent gains maintain the price sequence of higher highs and higher lows. Furthermore, MA 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 €79.37, the 20-day EMA.
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