Capesize

13750

May-17
450.00 3.38%

Panamax

8300

May-17
-200.00 -2.35%

Iron Ore

61.5

May-17
-0.50 -0.81%

Sing 380

292.65

Jun-17

Coking Coal

177

May-17
1.00 0.57%

Nola Urea

172

May-17
3.00 1.78%

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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