Technically the Capesize index remains bullish with the downside move considered as counter trend at this point. Price action below USD 12,827 would be considered as deep and neutralise the current bull trend and below USD 11,705 the index will have made a fresh market low. Downside moves that hold above USD 12,827 would be…

The Supramax Index is considered as technically corrective below USD 8,764 as this the most recent market high. The RSI remains in bearish territory at 35 but is showing a bullish hidden divergence, suggesting we have the potential to see a momentum slowdown soon. To view the full report please click on the link   

Having broken the 200 period MA on the daily technical price action on the Panamax index has rejected technical resistance levels at 10,740 on the weekly chart. Transportation issues for grains in the U.S. due to heavy rains, coupled with the ongoing trade war have added weight to the technical rejection, resulting in the index…