Capesize

5925

Feb-17
0.00 0.00%

Panamax

7475

Feb-17
75.00 1.01%

Iron Ore

81.7

Feb-17
0.95 1.18%

Sing 380

312.95

Mar-17
#N/A #N/A

Coking Coal

185

Feb-17
0.00 0.00%

Nola Urea

250

Feb-17
0.00 0.00%

FFA Technical Roundup


FFA Technical Roundup

The Capesize Index has continued to weaken, and has recently broken the US$ 5,354 support from May 2016. Technically bearish, the index remains in oversold territory on the weekly chart, and is due some form of an upward move, be it a consolidation period or something more sustained.

Resistance on the weekly chart is at US$ 6,570, and this is a key level going forward. A close above this level would suggest that the longer term downward move has run its course and suggest the market should either form a longer term base, or start a new upward trend. Market shorts should be tightening risk at this point.

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