FIS Technical – Capesize
Capesize Index- Technically bearish, the recent upward move was greater in time and price than any previous upward move since the high in March, suggesting buying confidence is growing.
Q4– At technical resistance with an overbought stochastic would suggest that downside support could be tested. Failure to make a fresh low would suggest consolidation or a change in bias from bearish to bullish. Caution on a close above 15,840
Cape v Panamax Q4 17 spread – technically bearish, failure to close above USD 5,990 would suggest downside continuation.
Q4 v Cal 18 – The bias of this trend appears to be in transition from bullish to bearish.