FIS Technical – Capesize

FIS Technical – Capesize

The index held on the 200 period MA and has now moved above the 8 – 21 period EMA’s and the 55 period MA, the RSI is above 50 in bull territory.  The near-term technical picture has improved; however, price is now at the base of the resistance zone with the RSI producing a bearish hidden divergence. From a technical perspective the upside move is starting to look vulnerable and is not considered a technical buy at this point.

 

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