ICE EUA FUTURES TECHS: (Z5) Bear Cycle Intact
Mar-13 13:36
- RES 4: €85.00 - Round number resistance
- RES 3: €84.50 - High Jan 30 and the bull trigger
- RES 2: €73.82/80.49 - 50-day EMA / High Feb 13
- RES 1: €71.89 - 20-day EMA
- PRICE: €70.86 @ 13:25 GMT Mar 13
- SUP 1: €66.78 - Low Mar 7
- SUP 2: €64.05 - Low Dec 17 ‘24 and a key support
- SUP 3: €61.98 - Low Oct 9 ‘24 and a key medium-term support
- SUP 4: €59.26 - Low Apr 3 ‘24
The trend outlook in ICE EUA futures is bearish and short-term gains are considered corrective. The contract recently cleared the final retracement of the Dec 17 - Jan 30 bull leg - the 76.4% Fibonacci retracement at €68.88. This strengthens the bearish theme and signals potential for a move towards the next key support at €64.05, the Dec 17 ‘24 low. On the upside, initial firm resistance to watch is €73.82, the 50-day EMA.
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GILTS: Longs Reset In Futures On Monday
Feb-11 13:32
OI data points to ~4K fresh net longs being added in gilt futures on Monday.
- The previous two sessions had seen a cumulative ~18K of net long cover, which followed a period of net long setting seen across late January and early February.
MNI: CANADIAN DEC BUILDING PERMITS +11.0% MOM
Feb-11 13:30
- MNI: CANADIAN DEC BUILDING PERMITS +11.0% MOM
- CANADA RESIDENTIAL BUILDING PERMITS +21.2%; NON-RESIDENTIAL -5.9%
EQUITIES: Fresh record highs for European Indices
Feb-11 13:28
- A fresh record high in Cash SX5E, seems to be helping the futures (VGH5) through the overnight high, and a new record high here too.
- VGH5 is breaking the MNI Tech projection that was at 5381.13, and most Investors will now be watching for any potential test towards the Psychological 5400.00.
- Stoxx600 is now also edging to a new record, with a 546.68 high.
