FIS Technical – Capesize

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 considered as technically bullish; note we remain in divergence with the 21 period RSI.

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