FIS Technical – Capesize

The index failed to hold above the USD 17,095 support and has created a new low. price action remains above the shorter and medium-term averages and from a technical perspective is regarded as corrective rather than bearish at this point.

The July futures broke to the downside last week signalling it had entered a corrective phase. Price action currently holds above the USD 15,432 support indicating the technical picture remains in positive territory although corrective.

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