ICE EUA FUTURES TECHS: (Z5) Trend Structure Remains Bullish
- 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.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
GLOBAL POLITICAL RISK: Week Ahead 13-19 January
MNI's Political Risk team has published its Week Ahead article, outlining the major political events scheduled to take place across the globe over the next seven days. Includes info on the last week of the Joe Biden presidency; hearings beginning for US President-elect Donald Trump Cabinet picks; and France's PM Francois Bayrou delivering a major policy speech that is set to be followed by a confidence vote that risks an early ouster for the veteran centrist politician.
Full article PDF attached below:
US TSYS: J.P.Morgan Recommend 5s10s Flatteners
Late Friday saw J.P.Morgan recommend “adding 5s/10s flatteners to fade some of this aggressive steepening, but to also act as a hedge to our long at the front end.”
- They think “some parts of the yield curve have steepened by more than would be expected. 5s/10s looks about 7bp too steep (regressed against 2-Year yields over the last 6 months), a move of more than 2 standard deviations.”
BANK OF CANADA RELEASING PANDEMIC REVIEW REPORT ON JAN 17
- BANK OF CANADA RELEASING PANDEMIC REVIEW REPORT ON JAN 17
